Annual Gift Tax Exclusion 2024 Taxguru . At its general core, the federal gift tax annual exclusion allows taxpayers to transfer relatively significant sums to their children or other beneficiaries each year. The historical gift tax exclusion amount is $18,000 for 2024, up from $17,000 in 2023, and up from $16,000 in 2022.
The 2024 gift tax limit is $18,000, up from $17,000 in 2023. The gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year, up from $17,000 in 2023.
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Gift Tax 2024 How It Works, Limits and Who Pays Kiplinger , In 2024, the annual gift tax exclusion amount increased to $18,000 per recipient based on inflation adjustments.