Irs Gift Tax Form 2024. You can use this gift tax calculator to determine the amount of tax you owe over a given taxation period. If you exceed the annual gift tax limit, you may have to file a federal gift tax return (irs form 709).

If you made substantial gifts this year, you may need to fill out form 709. If you give someone a gift that exceeds the annual gift tax exclusion amount ($17,000 per recipient for 2023, $18,000 for 2024), you’re required to report it using internal revenue.