Tax Free Gift Limit 2024. For 2024, the annual gift tax exclusion is $18,000, up from $17,000 in 2023. Gifts that exceed the annual limit must be documented on your tax return at the end of the year and added to your $13.61 million limit.
The gift tax limit (or annual gift tax exclusion) for 2023 is $17,000 per recipient. The united states government imposes a gift tax on gifts of money and other property that exceed the annual gift tax limit of $18,000 in 2024.