Irs Gift Tax Exclusion 2024. The irs typically adjusts this gift tax exclusion each year based on inflation. Gifts in other cases are taxable.
Annual gift tax exclusion increase: This adjustment allows individuals to give more to their heirs.
So, Say That Youโre Married.
Starting on january 1, 2024, the annual exclusion on gifts will be $18,000 per recipient (up from $17,000 in 2023).
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).
What is the irs gift tax annual exclusion rate for 2024 and how do i use this exemption to avoid tax and keep my family safe?