2024 Gift Tax Exclusion Amount 2024. Married couples can each gift $18,000 to the same person, totaling $36,000, up from $34,000 in 2023. Currently the federal transfer tax basic exclusion amount, or applicable exemption amount, per person is $12,920,000.
Starting on january 1, 2024, the annual exclusion on gifts will be $18,000 per recipient (up from $17,000 in 2023). 50,000 per annum are exempt from tax in india.
