2024 Key Numbers
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| | 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 schedule| Taxable 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 |
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IMPORTANT DISCLOSURES Retirement Resources Financial Information Center is an educational resource provided for informational purposes only by Retirement Resources Investment Corporation ("Advisor"). Retirement Resources Investment Corporation is a registered investment advisor. Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. 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. Note that any assessment presented here considers several relevant factors but many not consider all factors that are relevant to your particular needs. This information does not suggest future results nor is it intended to suggest what is prudent and appropriate for you. You should not make assumptions about the future performance of your investments based upon this information. |
| Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2024. |
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