Irs Gift Tax Limits 2024. For 2024, the estate and gift tax unified credit equivalent. Starting from calendar year 2024, the annual exclusion for gifts will increase to $18,000, up from $17,000 in 2023.
The gift tax is a tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return. Spouses can elect to โsplitโ gifts, which doubles the annual.
