2024 Gift Tax Exclusion Over 65. When calculating gift tax, you will need to know the gift value that exceeded the annual exclusion limit to determine the corresponding rate which ranges from. It allows you to give cash or.
That means you can gift $18,000 per person to as many people as you want with no federal gift tax. A married couple filing jointly can double this amount and gift individuals $36,000 apiece in 2024.