Irs Gift Tax Limits 2024 . Here's how the gift tax works, along with current rates and exemption amounts. Starting from calendar year 2024, the annual exclusion for gifts will increase to $18,000, up from $17,000 in 2023.
The tax applies whether or not the donor. The gift tax limit (or annual gift tax exclusion) for 2023 is $17,000 per recipient.
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Gift Tax Exclusion 2024 Irs Hetty Laraine , (thatโs up $1,000 from last yearโs limit since the gift tax is one of many tax amounts adjusted annually for inflation.