Maximum Gift Tax Free 2024. 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). For a married couple, this means they can jointly gift $36,000 to a single recipient without incurring gift taxes.
It is a transfer tax, not an income tax. The gift tax is what the giver pays if they exceed certain gift limits in any given year.
For Married Couples, The Limit Was $17,000 Each, For A Total Of $34,000.
The exclusion, which is indexed annually (but only in $1,000 increments), is $18,000 in 2024 (up from $17,000 in 2023).
The Combined Gift And Estate Tax Exemption Will Be $13.61 Million Per Individual For Lifetime.
It is a transfer tax, not an income tax.
The 2023 Gift Tax Limit Was $17,000.
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Ordinary Monetary And Property Gifts Are Unlikely To Be Impacted By This Tax, Since The Yearly Limit For 2024 Is $18,000 Per Giver Per Recipient.
The gift tax is what the giver pays if they exceed certain gift limits in any given year.
Visit The Estate And Gift Taxes Page For More Comprehensive Estate And Gift Tax Information.
The exclusion, which is indexed annually (but only in $1,000 increments), is $18,000 in 2024 (up from $17,000 in 2023).