Lifetime Gift Tax Exclusion 2024. The irs typically adjusts this gift tax exclusion each year based on inflation. As of 2024, the exemption is $13.61 million per person.
In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. The 2024 gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year from $17,000 last year.