What Is The Gift Tax Limit For 2024. For 2024, the irs has set the annual gift tax exclusion at $18,000 per individual. What is the limit of a cash gift?
You only pay the gift tax if you exceed the lifetime exclusion, and that only happens if you exceed the annual exclusion. 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.
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