| | | | | Estate Planning
Key indexed figures | 2023 | 2024 |
---|
Annual gift
exclusion: | $17,000
| $18,000 | Gift and estate tax applicable exclusion
amount: | $12,920,000 + DSUEA1 | $13,610,000 + DSUEA1 | Noncitizen spouse annual gift
exclusion: | $175,000
| $185,000 | Generation-skipping transfer (GST)
tax exemption: | $12,920,0002 | $13,610,0002 | Special use valuation limit
(qualified real property in decedent's gross
estate): | $1,310,000
| $1,390,000
|
1 Basic exclusion amount plus deceased
spousal unused exclusion amount (exclusion is portable for 2011 and later years) 2 The GST tax exemption is not portable 2023 and 2024 gift and estate tax rate scheduleTaxable Estate | Tentative Tax
Equals
| Plus | Of Amount Over |
---|
0 -
$10,000 | $0 | 18% | $0 | $10,000 -
$20,000 | $1,800 | 20% | $10,000 | $20,000 -
$40,000 | $3,800 | 22% | $20,000 | $40,000 -
$60,000 | $8,200 | 24% | $40,000 | $60,000 -
$80,000 | $13,000 | 26% | $60,000 | $80,000 -
$100,000 | $18,200 | 28% | $80,000 | $100,000 -
$150,000 | $23,800 | 30% | $100,000 | $150,000 -
$250,000 | $38,800 | 32% | $150,000 | $250,000 -
$500,000 | $70,800 | 34% | $250,000 | $500,000 - $750,000 | $155,800 | 37% | $500,000 | $750,000 - $1,000,000 | $248,300 | 39% | $750,000 | $1,000,000 + | $345,800 | 40% | $1,000,000 | | | | | Credit shelter amount $12,920,000 in 2023 and $13,610,000 in 2024 | Unified credit amount $5,113,800 in 2023 and $5,389,800 in 2024 |
| | | | IMPORTANT DISCLOSURES Philippe E Berthoud and William E. Riquier offer Securities and Advisory Services through United Planners Financial Services, Member FINRA/SIPC. United Planners and The Retirement Financial Center are independent companies. Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, legal, or retirement advice or recommendations. The information presented here is not specific to any individual's personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
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