Max Gift Amount 2024. Here's how the gift tax works, along with current rates and exemption amounts. Thankfully, two factors — the annual gift tax exclusion and the lifetime exclusion — often help keep the irs out of most people's hair.

Thankfully, two factors — the annual gift tax exclusion and the lifetime exclusion — often help keep the irs out of most people’s hair. For 2024, the lifetime exclusion is $13,610,000 for individuals and $27,220,000 for married couples.