Inflation Adjustments for Estate and Gift Tax Annual Exclusion Amounts

/ January 10, 2016

Taxes and Constitutuion - iStockIn case you missed Internal Revenue Bulletin 2015-44, the 2016 inflation adjustments pertaining to estate planning are as follows:

  • The gift tax annual exclusion remains at $14,000 for gifts made in 2016.
  • The generation-skipping transfer (GST) tax exemption is $5,450,000 for transfers made in 2016.
  • The unified estate and gift tax exclusion amount is $5,450,000 for gifts made and decedents dying in 2016.
  • The 2016 annual exclusion amount for gifts made to non-citizen spouses is $148,000.
  • For decedents dying in 2016, the aggregate decrease resulting from electing to use the special use valuation under § 2032A cannot exceed $1,110,000.

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