Gift Tax 2024 Rate. What does mean, is that any dollar over. Your excess gift is $7,000 for that year, or $25,000 minus the $18,000 annual.

The gift tax is a tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return. For 2024, the annual gift tax exclusion is $18,000, up from $17,000 in 2023.