2024 Gift Amount. For 2024, the lifetime exemption amount is $13.61 million per individual, or $27.22 million for a married couple. In actuality, a majority of taxpayers will never have to pay gift tax because the irs stipulates that an individual can gift a total amount of $13.61 million, as of 2024, over their.
The irs has specific rules about the taxation of gifts. You only pay the gift tax if you exceed the lifetime exclusion, and that only happens if you exceed the annual exclusion.