Smedley Financial Services, Inc.®

Private Wealth Management Team Advisors
102 S 200 E Suite 100
PO Box 4133
Salt Lake City, UT 84110-4133
801-355-8888
800-748-4788
800-748-4788
info@smedleyfinancial.com
www.SmedleyFinancial.com

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August 01, 2023

2023 Key Numbers
 

Estate Planning

Key indexed figures20232024
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 schedule

Taxable EstateTentative Tax Equals PlusOf Amount Over
0 - $10,000$018%$0
$10,000 - $20,000$1,80020%$10,000
$20,000 - $40,000$3,80022%$20,000
$40,000 - $60,000$8,20024%$40,000
$60,000 - $80,000$13,00026%$60,000
$80,000 - $100,000$18,20028%$80,000
$100,000 - $150,000$23,80030%$100,000
$150,000 - $250,000$38,80032%$150,000
$250,000 - $500,000$70,80034%$250,000
$500,000 - $750,000$155,80037%$500,000
$750,000 - $1,000,000$248,30039%$750,000
$1,000,000 +$345,80040%$1,000,000
Credit shelter amount $12,920,000 in 2023 and $13,610,000 in 2024Unified credit amount $5,113,800 in 2023 and $5,389,800 in 2024
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Securities offered through Securities America, Inc., Member FINRA/SIPC. Roger M. Smedley, CFP®, Sharla J. Jessop, CFP®, James R. Derrick, CFA,  Mikal B. Aune, CFP®, Jordan R. Hadfield, CFP®and Shane P. Thomas, Registered Representatives and Registered Investment Advisor Representatives of Smedley Financial Services, Inc.® Smedley Financial Services, Inc.®, and Securities America, Inc. are separate entities. Securities America and its representatives do not provide tax or legal advice. Please consult the appropriate professionals regarding your personal situation.

Prepared by Broadridge Advisor Solutions Copyright 2024.