Irs Gift Tax Form 2024
Irs Gift Tax Form 2024. On or before april 15 of the calendar year following the year in which a gift is made, the individual making the gift must file a gift tax return ( form 709, united states. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability.
โข the annual gift tax exclusion for 2023 is $17,000 per recipient. The gift tax is a federal tax that the irs imposes on people that gift property.