Gift Tax Exemption 2024. What is the gift tax annual exclusion amount for 2024? The gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year, up from $17,000 in 2023.
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. Under current tax laws, not all gifts received in india are subject to tax.