Maximum Tax Free Gift 2024 For Children. In 2024, each person may gift up to $18,000 each year to any individual. There's no limit on the number of individual gifts.


Maximum Tax Free Gift 2024 For Children

If significant gifting to family or friends is important to you, it may be worth considering spreading out gifts to children, grandchildren or other family members or friends so that. The historical gift tax exclusion amount is $18,000 for 2024, up from $17,000 in 2023, and up from $16,000 in 2022.

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