Va 529 Contribution Limit 2024 Over 50. As of 2024, gifts of up to $18,000 per year, or up to $36,000 if married, to any one person are gift tax free. However, each state sets its lifetime contribution limit for 529 accounts per beneficiary, typically ranging from $235,000 to more than $550,000.

For 2024, the annual gift tax limit is $18,000 or $36,000 for married couples. The maximum contribution limit pertains to each beneficiary.