2024 Gift Exemption Amount. The annual gift tax exclusion amount has increased from $17,000 per person in 2023 to $18,000 per person in 2024 (or $36,000 for married couples choosing to individually make gifts). The irs has specific rules about the taxation of gifts.
What is the gift tax annual exclusion amount for 2024? This exemption is combined with the estate tax exemption to cover both the total value of gifts.