Lifetime Gift Tax Exclusion 2024 Irs. The unified credit is a combination of the gift tax exemption and estate tax exemption amount and is the amount that an individual may give either during their. What is the gift tax annual exclusion amount for 2024?

This credit eliminates federal gift tax liability on the first taxable gifts made in one’s lifetime, up to the $13,610,000 exemption amount in 2024. With portability or a bypass trust, spouses can.