Lifetime Gift Tax Exclusion 2024

Lifetime Gift Tax Exclusion 2024. Gift tax is not a concern with most financial gifts. (that’s up $1,000 from last year’s limit since the gift tax is one of many tax amounts adjusted annually for inflation.) for married couples, the.

The gift tax annual exclusion allows taxpayers to make certain gifts without eroding the taxpayer’s lifetime exemption amount. There’s no limit on the number of individual gifts that can be made, and couples can give double that amount if they elect to split gifts.