2024 Annual Gift Tax Exclusion Amount . A key component of this exclusion is the basic exclusion amount (bea). 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.
In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. The annual amount that one may give to a spouse who is not a us citizen will increase to $185,000 in 2024.
2024 Annual Gift Tax Exclusion Amount Images References :
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