Tax Free Gift Limit 2024 Over 65. For 2024, the lifetime exclusion is $13,610,000 for individuals and $27,220,000 for married couples. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability.
The united states government imposes a gift tax on gifts of money and other property that exceed the annual gift tax limit of $18,000 in 2024. For 2024, the internal revenue service (irs) allows individuals to make gifts of up to $18,000 per year to an unlimited number of individuals, with no federal gift or estate tax.
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