2024 Lifetime Gift Tax Exemption. This means that each person can. The 2024 gift tax limit (also known as the gift tax exclusion) increased to $18,000 this year from $17,000 last year.

The lifetime gift tax exemption is the amount of money or assets the government permits you to give away over the course of your lifetime without having to pay the federal gift tax. Making direct payments to medical and educational providers on behalf of a loved one.