Lifetime Gift Tax Exclusion 2024 Irs. The irs has specific rules about the taxation of gifts. The gift tax exclusion allows individuals to give gifts up to a certain amount each year without triggering the gift tax.
In 2023, you can make annual gifts to any one person up to a maximum of $17,000 per year ($18,000 in 2024, estimated to be $19,000 in 2025). There’s no limit on the number of individual gifts that can be made, and couples can give double that amount if they elect to split gifts.
