2024 Gift Amount Allowed. The first principle is that where a gift exceeds a specified amount, it will be regarded as ‘income from other sources’. Being aware of the maximum allowable gift amount in 2024 can help you plan your gifts more strategically while also ensuring compliance with tax.

How much money can you gift? The annual gift tax exclusion is $18,000 for 2024 and will be $19,000 in 2025.