Tax Free Gifting 2025. In other words, giving more. This amount is the maximum you can give a single person without having to report it to the irs.
Tax code provides a yearly exclusion amount ($18,000 per recipient in 2024 and $19,000 for 2025) and a lifetime exclusion amount ($13.61 million in. On november 26, 2019, the irs clarified that individuals taking advantage of the increased gift tax exclusion amount in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to.