Lifetime Gift Tax Exclusion 2024 Per Person. But exceeding the limit doesn't necessarily result in owing tax, thanks to a high lifetime estate and gift tax exemption. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability.

Starting on january 1, 2024, the annual exclusion on gifts will be $18,000 per recipient (up from $17,000 in 2023). This amount is also subject to change based on inflation adjustments and legislative changes.