Gifting To Children 2024. We explain how it works and how to avoid certain. The federal gift and estate tax exemption amount for 2024 is $13.61 million, up from $12.92 million in 2023.
20, 2018, the irs clarified that individuals taking advantage of the increased gift tax exclusion amount in effect from 2018 to 2025 will not be adversely impacted after. The simplest way is to gift your assets to your loved ones now, rather than waiting until you pass away.