Doro Nanete

Gift Tax 2024 Exclusion Form. The 2024 gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year from $17,000 last year. The gift tax is a tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return.

In 2024, you can give up to $18,000 per recipient without having to pay gift tax. You can use the gift tax exclusion to give away a set amount every year, $18,000 in 2024 ($17,000 in 2023;