2024 Gift Amount Tax Free. The faqs on this page provide details on how tax reform affects estate and gift tax. You only pay the gift tax if you exceed the lifetime exclusion, and that only happens if you exceed the annual exclusion.

For 2024, the lifetime exclusion is $13,610,000 for individuals and $27,220,000 for married couples. The irs adjusts the gift tax exclusion periodically to keep pace with inflation.