How Much Can I Give Away without Having to Pay Gift Tax?

You can give unlimited gifts to your spouse. You can give up to $18,000 per person, per year to anyone else (as of 2024). You can also pay for another person’s tuition and medical expenses in unlimited amounts as long as you pay the service provider directly. Any gifts over those amounts are considered “taxable gifts” and are required to be reported to the IRS on Form 709. You do not actually have to pay gift tax unless you give taxable gifts in excess of the estate and gift exemption of (as of 2024) $13.61 Million. Taxable gifts reduce your available exemption and therefore the amount you can leave estate tax free at death.