2024 Gift Tax Exclusion Per Person. Historically, it has taken years for the annual exclusion amount for gifts of present interests to adjust, but 2024 represents the second year in a row. The annual gift tax limit is $18,000 per person in 2024.

The amount of the exclusion for 2024 is $18,000 per recipient. The annual gift tax exclusion level will increase from $17,000 per person in 2023 to $18,000 per person in 2024, in tandem with the significant adjustments in the lifetime.