2024 Gift Tax Amount. In general, the gift tax and estate tax provisions apply a unified rate schedule to a person’s cumulative taxable gifts and taxable estate to arrive at a net tentative tax. Enter the value of the gifts you have given during the selected tax year.

Instead, a gift is taxed only after you exceed your lifetime estate and gift exemption, which in 2024 is $13.61 million for individuals and $27.22 million for married couples. You can use this gift tax calculator to determine the amount of tax you owe over a given taxation period.