Federal Estate & Gift Tax

Year	Top Tax Rate	Basic Exclusion Amount	Gift Tax Annual Exclusion¹	Step Up in Basis at Death	Portability of Deceased Spouse’s Unused Exemption	Portability of Deceased Spouse’s Unused GST Exemption
2008	45%	$2,000,000	$12,000	Yes	No	No
2009	45%	$3,500,000	$13,000	Yes	No	No
2010	35% or 0%	$5,000,000 or $0	$13,000	Yes	No	No
2011	35%	$5,000,000	$13,000	Yes	Yes	No
2012	35%	$5,120,000	$13,000	Yes	Yes	No
2013	40%	$5,250,000	$14,000	Yes	Yes	No
2014	40%	$5,340,000	$14,000	Yes	Yes	No
2015	40%	$5,430,000	$14,000	Yes	Yes	No
2016	40%	$5,450,000	$14,000	Yes	Yes	No
2017	40%	$5,490,000	$14,000	Yes	Yes	No
2018	40%	$11,180,000	$15,000	Yes	Yes	No
2019	40%	$11,400,000	$15,000	Yes	Yes	No
2020	40%	$11,580,000	$15,000	Yes	Yes	No
2021	40%	$11,700,000	$15,000	Yes	Yes	No
2022	40%	$12,060,000	$16,000	Yes	Yes	No
2023	40%	$12,920,000	$17,000	Yes	Yes	No
2024	40%	$13,610,000	$18,000	Yes	Yes	No
2025	40%	$13,990,000	$19,000	Yes	Yes	No
2026	40%	$15,000,000²	TBD	Yes	Yes	No

¹ Inflation adjustment applied to base amount of $10,000.
² Inflation adjustment applied to base amount of $15,000,000.