2024 Gift Limits To Children

2024 Gift Limits To Children. The unified estate and gift tax exclusion amount, $13,610,000 for gifts made and decedents dying. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability.

Here’s how the gift tax works, along with current rates and exemption amounts. The irs typically adjusts this gift tax exclusion each year based on inflation.