Estate Gift Tax Exemption 2024. For example, a man could give $18,000 to each of his 10 grandchildren this. For 2024, the annual gift tax exclusion is $18,000, meaning a person can give up to $18,000 to as many people as he or she wants without having to pay any taxes on the gifts.
In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. The irs announced that the lifetime estate and gift tax exemption will increase to $13.61 million in 2024.