Annual Gift Tax Exclusion 2024

Annual Gift Tax Exclusion 2024. Each year, the irs sets the annual gift tax exclusion, which allows a taxpayer to give a certain amount (in 2024, $18,000) per. In addition, gifts from certain relatives such as parents, spouse and siblings are also exempt from tax.


Annual Gift Tax Exclusion 2024

The lifetime gift tax exemption in 2024 is set at $13.61 million per individual. Gifts in other cases are taxable.

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