2025 Gift Tax Limit Over 65

2025 Gift Tax Limit Over 65. Gift tax exemption for 2025. In november 2023, the irs announced the revised federal estate tax and gift tax limits for 2025.

The exemption amount will rise to $13.99 million per person, up from $13.61 million in 2025. You only pay the gift tax if you exceed the lifetime exclusion, and that only happens if you exceed the annual exclusion.