What is the 2024 annual gift tax exclusion?

$18,000 per recipient, up from $17,000 in 2023. A married couple can give $36,000 to any one person tax-free via gift-splitting (both must consent, filed on Form 709). No limit on the number of recipients.

What happens if I give more than the annual exclusion?

The excess reduces your lifetime unified credit (same pool as the estate tax exemption). No gift tax is actually owed until the lifetime exemption ($13,610,000) is exhausted. Form 709 must be filed to report taxable gifts.

Are there unlimited exclusions beyond the annual amount?

Yes. Direct payments to educational institutions for tuition (not room and board) and to medical providers are excluded from gift tax entirely, regardless of amount. These direct payments bypass both the annual exclusion and lifetime exemption.

Annual Gift Tax Exclusion Calculator

Calculate 2024 annual gift tax exclusion — $18,000 per recipient per year ($36,000 for married couples with gift-splitting). Gifts above this amount reduce the lifetime exemption.

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Frequently Asked Questions

What is the 2024 annual gift tax exclusion?

What happens if I give more than the annual exclusion?

Are there unlimited exclusions beyond the annual amount?