Federal Estate and Gift Tax Rates, Exemptions, and Exclusions, 1916-2014

February 04, 2014

Table: Federal Estate and Gift Tax Rates, Exemptions, and Exclusions, 1916-2014

Year Estate Tax Exemption Lifetime Gift Tax Exemption Annual Gift Tax Exclusion Maximum Estate Tax Rate Maximum Gift Tax Rate
1916 $50,000  None  None 10% 0%
1917-23 $50,000  None  None 25% 0%
1924-25 $50,000 $50,000 $500 40% 25%
1926-31 $100,000  None  None 20% 0%
1932-33 $50,000 $50,000 $5,000 45% 34%
1934 $50,000 $50,000 $5,000 60% 45%
1935-37 $40,000 $40,000 $5,000 70% 53%
1938-40 $40,000 $40,000 $4,000 70% 53%
1941 $40,000 $40,000 $4,000 77% 58%
1942-76 $60,000 $30,000 $3,000 77% 58%
1977 $120,000 $120,000 $3,000 70% 70%
1978 $134,000 $134,000 $3,000 70% 70%
1979 $147,000 $147,000 $3,000 70% 70%
1980 $161,000 $161,000 $3,000 70% 70%
1981 $175,000 $175,000 $3,000 70% 70%
1982 $225,000 $225,000 $10,000 65% 65%
1983 $275,000 $275,000 $10,000 60% 60%
1984 $325,000 $325,000 $10,000 55% 55%
1985 $400,000 $400,000 $10,000 55% 55%
1986 $500,000 $500,000 $10,000 55% 55%
1987-97 $600,000 $600,000 $10,000 55% 55%
1998 $625,000 $625,000 $10,000 55% 55%
1999 $650,000 $650,000 $10,000 55% 55%
2000-01 $675,000 $675,000 $10,000 55% 55%
2002 $1,000,000 $1,000,000 $11,000 50% 50%
2003 $1,000,000 $1,000,000 $11,000 49% 49%
2004 $1,500,000 $1,000,000 $11,000 48% 48%
2005 $1,500,000 $1,000,000 $11,000 47% 47%
2006 $2,000,000 $1,000,000 $12,000 46% 46%
2007-08 $2,000,000 $1,000,000 $12,000 45% 45%
2009 $3,500,000 $1,000,000 $13,000 45% 45%
2010 $5,000,000 $1,000,000 $13,000 35% 35%
2011 $5,000,000 $5,000,000 $13,000 35% 35%
2012 $5,120,000 $5,120,000 $13,000 35% 35%
2013 $5,250,000 $5,250,000 $14,000 40% 40%
2014 $5,340,000 $5,340,000 $14,000 40% 40%

Source: Internal Revenue Service, CCH Inc.; Julie Garber’s “Annual Exclusion from Gift Taxes, 1997-2010,” and "Federal Estate, Gift and GST Tax Rates and Exemptions," McDermott Will and Emery

Tax Topic 

Follow Us

Tax Policy Blog

The official weblog of the Tax Foundation.

Go

Tax By State

For information on your state, select it from the drop-down menu.

 

Ask a Tax Expert

Contact information for Tax Foundation policy staff Ask