2024 Annual Gift Exclusion Amount. By using the annual gift tax exclusion, those gifts — within generous limits — can reduce your taxable estate. The annual exclusion for gifts increases to $18,000 for calendar year 2024, increased from $17,000 for calendar year 2023.

The lifetime gift and estate tax exemption is worth $13.61 million in 2024. This means that a parent may gift $18,000 per child (or any other.