Gift Tax 2024 Exclusion Limit. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. You only pay the gift tax if you exceed the lifetime exclusion, and that only happens if you exceed the annual exclusion.

You can use the gift tax exclusion to give away a set amount every year, $18,000 in 2024 ($17,000 in 2023; You can give up to $18,000 to each person without having to worry about the gift tax—that’s the annual gift tax exclusion 2024.