2024 Gift Tax Exclusion Per Person. In 2023, you can make annual gifts to any one person up to a maximum of $17,000 per year ($18,000 in 2024, estimated to be $19,000 in 2025). For 2024, the annual gift tax exclusion is $18,000, meaning a person can give up to $18,000 to as many people as he or she wants without having to pay any taxes on the gifts.

The gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year, up from $17,000 in 2023. In addition, gifts from certain relatives such as parents, spouse and siblings are also exempt from.