2024 Gift Tax Limit Over 50
2024 Gift Tax Limit Over 50. The gift tax is intended to discourage large gifts that could. The annual gift tax exclusion for 2024 is $18,000.
In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. For 2024, you can give up to $18,000 to each recipient without triggering the gift tax, which is known as the annual gift tax exemption.