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Lifetime Gift Tax Exclusion 2024 Form. If you exceed the annual gift tax limit, you may have to file a federal gift tax return ( irs form 709 ). If the giver provides a gift over $18,000 in 2024, they must file a gift tax return (irs form 709) with their federal income tax return to account for gifts and track the lifetime exemption.
In 2023, you can make annual gifts to any one person up to a maximum of $17,000 per year ($18,000 in 2024, estimated to be $19,000 in 2025). For tax year 2023, the lifetime gift tax exemption is $12.92 million.
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