Irs Tax Free Gift Limit 2024. Any amount beyond that will involve using part of your lifetime federal gift tax exclusion, which is $13.61 million per. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability.
For 2024, the annual gift tax limit is $18,000. In 2023, the irs set the lifetime gift tax exemption at $12.92 million, enabling individuals to transfer this amount tax.