Gift Tax Rules 2024. According to the income taxact, money or movable/immovable property that an individual receives from another individual/organization without making a payment is termed as “gift”. Learn about rules and exemptions.
In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. Last updated 30 july 2024 · 475,492 views.
