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
2008	45%	$2,000,000	$12,000	Yes	No
2009	45%	$3,500,000	$13,000	Yes	No
2010	35% or 0%	$5,000,000 or $0	$13,000	Yes	No
2011	35%	$5,000,000	$13,000	Yes	Yes
2012	35%	$5,120,000²	$13,000	Yes	Yes
2013	40%	$5,250,000²	$14,000	Yes	Yes
2014	40%	$5,340,000²	$14,000	Yes	Yes
2015	40%	$5,430,000²	$14,000	Yes	Yes
2016	40%	$5,450,000²	$14,000	Yes	Yes
2017	40%	$5,490,000²	$14,000	Yes	Yes
2018	40%	$11,180,000³	$15,000	Yes	Yes
2019	40%	$11,400,000³	$15,000	Yes	Yes
2020	40%	$11,580,000³	$15,000	Yes	Yes
2021	40%	$11,700,000³	$15,000	Yes	Yes
2022	40%	$12,060,000³	$16,000	Yes	Yes
2023	40%	$12,920,000³	$17,000	Yes	Yes
2024	40%	$13,610,000³	$18,000	Yes	Yes
2025	40%	$13,990,000³	$19,000	Yes	Yes

¹ Inflation adjustment applied to base amount of $10,000.
² Inflation adjustment applied to base amount of $5,000,000.
³ 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.