2024 Gift Tax Exclusion Rules For Senior Citizens , 2024 Gift Tax Exclusion Rules For Senior Citizens. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. Knowing the annual gift tax exclusion can save you money and spare you from filing gift tax returns. In 2023, you can make annual gifts to any one person up to a maximum of $17,000 per year ($18,000 in 2024, estimated to be $19,000 in 2025). Here’s how the gift tax works, along with current rates and exemption amounts. 2024 Gift Tax Exclusion Rules For Senior Citizens Images References : 2024
2024 Gift Tax Exclusion Rules For Senior Citizens. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. Knowing the annual gift tax exclusion can save you money and spare you from filing gift tax returns. In 2023, you can make annual gifts to any one person up to a maximum of $17,000 per year ($18,000 in 2024, estimated to be $19,000 in 2025). Here’s how the gift tax works, along with current rates and exemption amounts.