Gift Tax Amount 2024. Learn about rules and exemptions. Instead, a gift is taxed only after you exceed your lifetime estate and gift exemption, which in 2024 is $13.61 million for individuals and $27.22 million for married couples.
For the year 2024, the irs sets specific limits on the amount that can be given to any number of individuals without incurring a gift tax or even needing to file a gift tax return. You can use this gift tax calculator to determine the amount of tax you owe over a given taxation period.