Here are some key numbers associated with estate planning, as well as the federal gift tax and estate tax rate schedules for 2021 and 2022.
| 2021 | 2022 | |
|---|---|---|
| Annual gift tax exclusion: | $15,000 | $16,000 |
| Gift tax and estate tax applicable exclusion amount: | $11,700,0001 + DSUEA2 | $12,060,0001 + DSUEA2 |
| Noncitizen spouse annual gift tax exclusion: | $159,000 | $164,000 |
| Generation-skipping transfer (GST) tax exemption: | $11,700,0003 | $12,060,0003 |
| GST tax rate | 40% | 40% |
| Special use valuation limit (qualified real property in decedent’s gross estate): | $1,190,000 | $1,230,000 |
1 The basic exclusion amount.
2 Deceased spousal unused exclusion amount (for 2011 and later years)
3 The GST tax exemption is not portable.
| Taxable Gift/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: $11,700,000 in 2021, $12,060,000 in 2022 | Unified credit amount: $4,625,800 in 2021, $4,769,800 in 2022 | ||
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