2024 Gift Tax Exemption Amount. The 2024 annual exclusion amount will be $18,000 (up from $17,000 in 2023). For 2024, the lifetime gift tax exemption is $13.61 million, up from $12.92 million in 2023.

As announced by the irs, the key 2024 federal transfer tax exemption amounts per taxpayer are as follows: The united states government imposes a gift tax on gifts of money and other property that exceed the annual gift tax limit of $18,000 in 2024.