Lifetime Estate Gift Tax Exclusion 2024. Starting on january 1, 2024, the annual exclusion on gifts will be $18,000 per recipient (up from $17,000 in 2023). What is an estate tax and a gift tax and how are they different?
This is known as the “gift tax. The irs has announced some important updates to the federal gift and estate tax exemptions for the year 2024.
