|
Year |
Top Tax Rate |
Basic Exclusion Amount |
Gift Tax Annual Exclusion1 |
Carry-Over Basis |
Portability of Deceased Spouse’s Unused Exemption |
|
2008 |
45% |
$2,000,000 |
$12,000 |
No |
No |
|
2009 |
45% |
$3,500,000 |
$13,000 |
No |
No |
|
20102 |
35% or 0% |
$5,000,000 or $0 |
$13,000 |
No |
No |
|
2011 |
35% |
$5,000,000 |
$13,000 |
No |
Yes |
|
2012 |
35% |
$5,120,0003 |
$13,000 |
No |
Yes |
|
2013 |
40% |
$5,250,0003 |
$14,000 |
No |
Yes |
|
2014 |
40% |
$5,340,0003 |
$14,000 |
No |
Yes |
|
2015 |
40% |
$5,430,0003 |
$14,000 |
No |
Yes |
|
2016 |
40% |
$5,450,0003 |
$14,000 |
No |
Yes |
|
2017 |
40% |
$5,490,0003 |
$14,000 |
No |
Yes |
|
2018 |
40% |
$11,180,0004 |
$15,000 |
No |
Yes |
|
2019 |
40% |
$11,400,0004 |
$15,000 |
No |
Yes |
|
2020 |
40% |
$11,580,0004 |
$15,000 |
No |
Yes |
|
2021 |
40% |
$11,700,0004 |
$15,000 |
No |
Yes |
|
2022 |
40% |
$12,060,0004 |
$16,000 |
No |
Yes |
|
2023 |
40% |
$12,920,0004 |
$17,000 |
No |
Yes |
1 Inflation adjustment applied to base amount of $10,000.
2 Executor may elect for the estate tax and step-up basis rules not to apply to a 2010 decedent; this election results in the application of the modified carryover basis rules to the estate.
3 Inflation adjustment applied to base amount of $5,000,000.
4 Inflation adjustment applied to base amount of $10,000,000. The Tax Cuts and Jobs Act is not permanent and “sunsets” in 2026 to pre-2018 laws unless Congress takes action.
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