Gift Tax 2024 Exclusion. The annual exclusion amount for 2023 is $17,000 and for 2024 is $18,000. At its general core, the federal gift tax annual exclusion allows taxpayers to transfer relatively significant sums to their children or other beneficiaries each year without incurring gift.

How much money can you gift? This means that you can give up to $18,000 to anyone without having to worry about paying any gift tax.