Dona Nalani

2024 Gift Tax Limit Over 50. In 2024, an individual can make a gift of up to $18,000 a year to another individual without federal gift tax liability. There's no limit on the number of individual gifts that can be.

For 2025, employees can now contribute up to $23,500 to a 401(k) or 403(b) plan if they’re under 50, up from $23,000 in 2024. An annual exclusion in relation to the gift tax exemption is the amount of money a person can gift/transfer to another without making it a taxable event.