Gifting Limits 2024 Irs. In 2024, individuals can gift up to $18,000 per year, up from the previous limit of $17,000. However, for larger amounts, the irs may consider the forgone interest as a gift, which could have gift tax implications.
You only pay the gift tax if you exceed the lifetime exclusion, and that only happens if you exceed the annual exclusion. The gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year, up from $17,000 in 2023.
