Maximum Amount Of Gift Tax Free 2024. This can be huge amounts. With the arrival of the new year, revisions to the annual gift tax and estate tax exclusions will be going into effect, as recently announced by the internal revenue service (irs).

In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. A gift is anything of significant value that a person gives to someone else without receiving anything equivalent to its fair market value in return.