Irs Annual Gift Limit 2024 Per Person

Irs Annual Gift Limit 2024 Per Person. This means that you can give up to $18,000 to anyone without having to worry about paying any gift tax. The gift tax is a tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return.

For married couples, the limit is $18,000 each, for a total of $36,000. Married people typically can gift as much money to their spouses as they like without tax consequences.