Irs Gift Tax Form 2024. 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. In 2023, you can make annual gifts to any one person up to a maximum of $17,000 per year ($18,000 in 2024, estimated to be $19,000 in 2025).

Are you considering giving cash or property to loved ones or others in 2024? For 2024, the annual gift tax exclusion is $18,000, meaning a person can give up to $18,000 to as.