Jackinopolis , 5 months ago

The annual gift tax exclusion of $18,000 for 2024 is the amount of money that you can give as a gift to one person, in any given year, without having to pay any gift tax

If anyone is looking for the gift tax limit I got the above quote from https://smartasset.com/retirement/gift-tax-limits

This is more than I remember, but I think I'm confusing it with the $6000 limit for contributions to an IRA account. I think it went up to $7000 this year, but I digress.