Lifetime Gift Tax Exclusion 2024 Calculator. In 2023, the irs set the lifetime gift tax exemption at $12.92 million, enabling individuals to transfer.  — 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).

You only pay the gift tax if you exceed the lifetime exclusion, and that only happens if you exceed the annual exclusion.  — understanding the 2023 gift tax limit and changes for 2024.