2024 Gift Tax Exemption Amount. Instead, a gift is taxed only after you exceed your lifetime estate and gift exemption, which in 2024 is $13.61 million for individuals and $27.22 million for married. Another way to skirt around the gift tax is the lifetime gift tax exemption.

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. (that’s up $1,000 from last year’s limit since the gift tax is one of many tax amounts adjusted annually for inflation.)