Lifetime Gift Tax Exclusion 2024. If a gift exceeds the $18,000 limit for 2024, that does not automatically trigger the gift tax. The annual gift tax exclusion level will increase from $17,000 per person in 2023 to $18,000 per person in 2024, in tandem with the significant adjustments in the.
(that’s up $1,000 from last year’s limit since the gift tax is one of many tax amounts adjusted annually for inflation.) for married couples,. For the year 2024, the irs sets specific limits on the amount that can be given to any number of individuals without incurring a gift tax or even needing to file a gift tax return.