Gift Limit To Children 2024
Gift Limit To Children 2024. In 2024, the annual exclusion stands at $18,000. The faqs on this page provide details on how tax reform affects estate and gift tax.
At its general core, the federal gift tax annual exclusion allows taxpayers to transfer relatively significant sums to their children or other beneficiaries each year without incurring gift. You can only make such a gift once a year, and.