Maximum Tax Free Gift 2024 For Children. For 2024, the annual gift tax limit is $18,000. The historical gift tax exclusion amount is $18,000 for 2024, up from $17,000 in 2023, and up from $16,000 in 2022.
This means that you can give up to $13.61 million in gifts throughout your life without ever having to pay gift tax on it. For married couples, the limit is $18,000 each, for a total of $36,000.