How Much Can You Gift Tax Free 2024. The 2024 gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year from $17,000 last year. The annual federal gift tax exclusion allows you to give away up to.
This lifetime exclusion (also called a lifetime exemption) is worth $13.61 million. The irs typically adjusts this gift tax exclusion each year based on inflation.