Gift Tax
Learn about gift tax rules, annual exclusions, and lifetime exemptions. Discover how gift tax impacts estate planning and wealth transfer strategies.
What is the annual gift tax exclusion and how does it work?
The annual gift tax exclusion allows you to give a specific dollar amount to any person each year without triggering gift tax consequences. For 2024, this amount is $18,000 per recipient. You can give this amount to unlimited recipients annually, and married couples can combine their exclusions to give $36,000 per recipient together.
