| | 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 |
|