Irs Gift Tax Limits 2024. For married couples, the limit is $18,000 each, for a. 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.
The irs allows individuals to gift a certain amount of money to someone else each year without incurring any gift tax. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability.