Gift Tax Rates 2024. In addition, gifts from certain relatives such as parents, spouse and siblings are also exempt from tax. Provisions on taxation on gifts.
Starting on january 1, 2024, the annual exclusion on gifts will be $18,000 per recipient (up from $17,000 in 2023). In 2024, it is $18,000 per recipient, an increase from the 2023 limit of $17,000.
