2024 Gift Tax Exclusion. Upon a taxpayer making a gift that. The amount that may be gifted annually to individuals without tax consequence) has increased from $17,000 to $18,000 per recipient for.


2024 Gift Tax Exclusion

The irs has specific rules about the taxation of gifts. This credit eliminates federal gift tax liability on the first taxable gifts made in one’s lifetime, up to the $13,610,000 exemption amount in 2024.

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