Federal Estate, Gift, and GST Tax Rates & Exemptions

 

Year

Highest Gift & Estate Tax Rate

Estate Tax Exemption Amount

Gift Tax Exemption Amount

Gift Tax Annual Exclusion1

Highest GST Tax Rate

GST Exemption Amount

Carry-Over Basis

Portability of Spouse’s Unused Estate/Gift Exemption

2008

45%

$2,000,000

$1,000,000

$12,000

45%

$2,000,000

No

No

2009

45%

$3,500,000

$1,000,000

$13,000

45%

$3,500,000

No

No

20102

35%

$5,000,000

$1,000,000

$13,000

0%

$5,000,000

No

Yes

2011

35%

$5,000,000

$5,000,000

$13,000

35%

$5,000,000

No

Yes

2012

35%

$5,120,0003

$5,120,0003

$13,000

35%

$5,120,0003

No

Yes

2013

40%

$5,250,0003

$5,250,0003

$14,000

40%

$5,250,0003

No

Yes

2014

40%

$5,340,0003

$5,340,0003

$14,000

40%

$5,340,0003

No

Yes

2015

40%

$5,430,0003

$5,430,0003

$14,000

40%

$5,430,0003

No

Yes

2016

40%

$5,450,0003

$5,450,0003

$14,000

40%

$5,450,0003

No

Yes

2017

40%

$5,490,0003

$5,490,0003

$14,000

40%

$5,490,0003

No

Yes

2018

40%

$10,000,0004

$10,000,0004

$15,000

40%

$10,000,0004

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 to be applied; not yet determined.