Estate Planning Key Numbers 2022 and 2023
Estate Planning Key Numbers
Here are some key numbers associated with estate planning, as well as the federal gift tax and estate tax rate schedules for 2022 and 2023.| 2022 | 2023 | |
|---|---|---|
| Annual gift tax exclusion: | $16,000 | $17,000 |
| Gift tax and estate tax applicable exclusion amount: | $12,060,0001 + DSUEA2 | $12,920,0001 + DSUEA2 |
| Noncitizen spouse annual gift tax exclusion: | $164,000 | $175,000 |
| Generation-skipping transfer (GST) tax exemption: | $12,060,0003 | $12,920,0003 |
| GST tax rate | 40% | 40% |
| Special use valuation limit (qualified real property in decedent’s gross estate): | $1,230,000 | $1,310,000 |
| 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: $12,060,000 in 2022, $12,920,000 in 2023 | Unified credit amount: $4,769,800 in 2022, $5,113,800 in 2023 | ||
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| Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2023. |
1 The basic exclusion amount.
2 Deceased spousal unused exclusion amount (for 2011 and later years)
3 The GST tax exemption is not portable.