Irs Tax Gift Limit 2024. The gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year, up from $17,000 in 2023. In general, the gift tax and estate tax provisions apply a unified rate schedule to a person’s cumulative taxable gifts and taxable estate to arrive at a net tentative tax.

The lifetime gift tax exemption is slated to drop after 2025, potentially falling from today’s $13.61 million in 2024 to around $7 million in 2026—but. Request an extension by mail.