2024 Gift Tax Exemption Lifetime. The lifetime gift tax exemption will also increase to $13.61 million for individuals in 2024, a significant increase from the 2023 exemption of $12.92 million. The lifetime gift tax exemption in 2024 is set at $13.61 million per individual.

In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. There’s no limit on the number of individual gifts that can be made, and couples can give double that amount if.