Gift Tax 2024 Exemption 2024. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. Starting on january 1, 2024, the annual exclusion on gifts will be $18,000 per recipient (up from $17,000 in 2023).

The tax cuts and jobs act (tcja) that passed in 2017 significantly impacted the federal estate and gifting landscape by nearly doubling the lifetime gift exemption. For example, a man could give $18,000 to.