Annual Gift Tax Exclusion 2024. In 2023 and 2024, be aware of the annual gift tax limit to avoid triggering a gift tax return. Here's how the gift tax works, along with current rates and exemption amounts.
In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. The irs typically adjusts this gift tax exclusion each year based on inflation.
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