August 29, 2024

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2024 Gift Tax Exclusion Rules

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2024 Gift Tax Exclusion Rules. Gift tax is paid on taxable gifts that exceed the annual gift tax exclusion.  โ€” this credit, which applies to gifts made during lifetime or at death, is known as the gift and estate tax exemption.


2024 Gift Tax Exclusion Rules

Knowing the annual gift tax exclusion can save you money and spare you from filing gift tax returns. Starting on january 1, 2024, the annual exclusion on gifts will be $18,000 per recipient (up from $17,000 in 2023).

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