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 2021 and 2022.
| 2021 | 2022 | |
| Annual gift tax exclusion: | $15,000 | $16,000 |
| Gift tax and estate tax applicable exclusion amount: | $11,700,000 (1) + DSUEA(2) | $12,060,000(1) + DSUEA(2) |
| Noncitizen spouse annual gift tax exclusion: | $159,000 | $164,000 |
| Generation-skipping transfer (GST) tax exemption: | $11,700,000(3) | $12,060,000(3) |
| GST tax rate | 40% | 40% |
| Special use valuation limit (qualified real property in decedent’s gross estate): | $1,190,000 | $1,230,000 |
1 The basic exclusion amount.
2 Deceased spousal unused exclusion amount (for 2011 and later years)
3 The GST tax exemption is not portable.
2021 and 2022 Gift Tax and Estate Tax Rate Schedule
| 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: $11,700,000 in 2021,
$12,060,000 in 2022 |
Unified credit amount: $4,625,800 in 2021,
$4,769,800 in 2022 |
||
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
The information provided is not intended to be a substitute for specific individualized tax planning or legal advice. We suggest that you consult with a qualified tax or legal professional.
LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.
This article was prepared by Broadridge.
LPL Tracking #1-05093289
