2024 Gift Exclusion. For example, an individual can gift up to $18,000 in 2024 without incurring a 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 lifetime.

The annual gift tax exclusion is a powerful tool for individuals and couples to reduce their taxable estate and in 2024 they will have an additional $1,000 per year, per. The gift tax limit, also known as the gift tax exclusion, is $18,000 for 2024.