Gift Tax 2024 Rate. In 2023, you can make annual gifts to any one person up to a maximum of $17,000 per year ($18,000 in 2024, estimated to be $19,000 in 2025). The gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year, up from $17,000 in 2023.
The gift tax imposes a tax on large gifts, preventing massive transfers of wealth without any tax implications. Monetary gift or money received in the form of cash, cheque,.
