2024 Gift Tax Limit Per Individual. Here's how the gift tax works, along with current rates and exemption amounts. For 2024, the irs has increased the annual gift tax exclusion for individuals from $17,000 to $18,000.
1 for 2024, the limit has been adjusted for inflation and will rise to $18,000. If you give people a lot of money, you might have to pay a federal gift tax.
