2024 Gift Tax Exemption Amount Vertaling. One is the annual gift tax exclusion, also known as the gift tax limit, a set dollar amount adjusted yearly for inflation. Here's how the gift tax works, along with current rates and exemption amounts.
It allows you to give cash or property up to a specified amount to an unlimited number of family members and friends each year without gift tax implications. This amount is the maximum you can give a single person without having to report it to the irs.
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