2024 Lifetime Gift Tax Exclusion Amount

2024 Lifetime Gift Tax Exclusion Amount. The federal lifetime gift and estate tax exemption amount will increase to $13.61 million per person and $27.22 million per married couple next year. A higher exemption means more estates may be exempt from the federal tax this year, which can.

A higher exemption means more estates may be exempt from the federal tax this year, which can. 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.