2024 Gift Tax Exemption Amount. Any gift over $18,000 requires tax reporting, but no gift tax is incurred until you reach the unified exclusion amount (currently $13,610,000). As of 2024, the annual gift tax exclusion limit is $18,000 per recipient.

For 2024, the annual gift tax exclusion is $18,000, up from $17,000 in 2023. The 2024 gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year from $17,000 last year.