What is the 2024 federal estate tax exemption?

$13.61 million per individual. With portability, a surviving spouse can use the deceased spouse unused exemption, potentially sheltering $27.22 million from estate tax.

What is the federal estate tax rate?

Estate tax rates range from 18% to 40% on the taxable estate. The maximum 40% rate applies to taxable amounts above $1 million.

Portability allows a surviving spouse to use the deceased spouse unused estate tax exemption. A timely Form 706 must be filed within 9 months of death to elect portability.

What deductions reduce the taxable estate?

Marital deduction (unlimited for US citizen spouses), charitable deduction, funeral expenses, debts, mortgages, and administration expenses all reduce the gross estate.

Will the estate tax exemption decrease?

The TCJA doubled the exemption through 2025. Without legislative action, it reverts to approximately $7 million (inflation-adjusted) in 2026. Planning before the sunset is critical for larger estates.

US Federal Estate Tax Exemption and Liability Calculator 2024

Calculate federal estate tax. Exemption: $13.61 million per person ($27.22m for couples with portability) in 2024. Estate tax rates: 18%-40% on taxable estate. Portability election requirements.

Principal ($)

Annual Rate (%)

Years

Compounding / Year

$ Finance Disclaimer: These calculators are for educational and illustrative purposes only. Results do not constitute financial advice. Consult a licensed financial advisor before making investment or borrowing decisions.

How to Use

Enter the values for the scenario you are assessing. Calculate federal estate tax. Exemption: $13.61 million per person ($27.22m for couples with portability) in 2024. Estate tax rates: 18%-40% on taxable estate. Portability election requirements. Use the estate tax exemption 2024 result to inform your calculation.

Related Calculators

Gift Tax Annual Exclusion

Finance & Accounting

NIIT Calculator

Finance & Accounting

RMD Calculator

Finance & Accounting

US Federal Estate Tax Exemption and Liability Calculator 2024

How to Use

Related Calculators

Frequently Asked Questions

What is the 2024 federal estate tax exemption?

What is the federal estate tax rate?

What is portability?

What deductions reduce the taxable estate?

Will the estate tax exemption decrease?