Irs Gift Tax Form 2024. • the annual gift tax exclusion for 2023 is $17,000 per recipient. Married couples can each gift $18,000 to the same person, totaling $36,000, up from $34,000 in 2023.

Visit the estate and gift taxes page for more comprehensive estate and gift tax. The caveat is that irs requires taxpayers to annually report any such gifts on a gift tax return, which is irs form 709.