Irs Annual Gift Tax Exclusion 2024. Starting on january 1, 2024, the annual exclusion on gifts will be $18,000 per recipient (up from.  — the irs typically adjusts this gift tax exclusion each year based on inflation.

This means that individuals can gift up to $17,000 to as many individuals as they like, without incurring. In general, the gift tax and estate tax provisions apply a unified rate schedule to a person’s cumulative taxable gifts and taxable estate to arrive at a net tentative tax.