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Estate Tax Calculator

Calculate federal estate tax & exemptions

Federal Estate Tax

$470,000

Net to Heirs

$14,315,000

Effective Rate

3.2%

2024 Federal Estate Tax

Exemption: $13.61M (single) / $27.22M (married with portability) • Tax Rate: 40%

$

Real estate, investments, business interests, life insurance, etc.

$
$
$
$
Estate Tax
$470,000
Net to Heirs
$14,315,000
Estate Tax Calculation
Gross Estate$15,000,000
Less: Deductions-$215,000
Taxable Estate$14,785,000
Less: Exemption Used-$13,610,000
Amount Subject to Tax$1,175,000
Estate Tax (40%)$470,000

Estate Breakdown

Exemption Used$13,610,000
Taxable Amount$1,175,000
Estate Tax$470,000

Frequently Asked Questions

Q

What is the 2024 estate tax exemption?

For 2024, the federal estate tax exemption is $13.61 million per individual. Married couples can combine exemptions through portability for a total of $27.22 million. Estates below these thresholds owe no federal estate tax.

  • Individual exemption: $13.61 million (2024)
  • Married couple with portability: $27.22 million combined
  • Less than 0.1% of estates owe federal estate tax
  • Exemption scheduled to drop to ~$7 million in 2026 if TCJA expires
  • Portability must be elected on first spouse's estate tax return (Form 706)
Filing StatusExemption AmountEstate Tax on $20MEstate Tax on $30M
Single / Widowed$13,610,000$2,556,000$6,556,000
Married (with portability)$27,220,000$0$1,112,000
Q

What is the federal estate tax rate?

The federal estate tax rate is 40% on amounts exceeding the exemption. For example, a $15 million estate (single) would owe 40% on $1.39 million ($15M - $13.61M exemption) = $556,000.

Estate Value (Single)Amount Over ExemptionEstate Tax (40%)Effective Rate
$14,000,000$390,000$156,0001.1%
$16,000,000$2,390,000$956,0006.0%
$20,000,000$6,390,000$2,556,00012.8%
$30,000,000$16,390,000$6,556,00021.9%
$50,000,000$36,390,000$14,556,00029.1%
Q

What is the unlimited marital deduction?

Assets left to a surviving U.S. citizen spouse are not subject to estate tax, regardless of amount. This allows deferral of estate taxes until the surviving spouse's death.

  • Unlimited amount can pass to a surviving U.S. citizen spouse tax-free
  • Non-citizen spouses: limited to $185,000 annual exclusion (2024)
  • Qualified Domestic Trust (QDOT) required for non-citizen spouses
  • Defers tax only — survivor's estate may owe tax at their death
  • Consider using bypass/credit shelter trust to preserve both exemptions
Q

What qualifies for estate tax deductions?

Deductible items include: debts and mortgages, funeral expenses, estate administration costs, charitable bequests, and amounts left to a surviving spouse.

  • Debts and mortgages: reduce gross estate dollar-for-dollar
  • Funeral expenses: typically $7,000-$15,000 deductible
  • Charitable bequests: unlimited deduction for qualified charities
  • Administrative costs: attorney fees, executor fees, appraisals
  • State estate taxes paid are deductible on the federal return
Q

Do states have separate estate taxes?

Yes, 12 states and DC have state estate taxes with lower exemptions (often $1-5 million). States include: WA, OR, HI, MN, IL, MD, VT, CT, NY, MA, ME, and RI. Check your state's specific rules.

StateExemptionTop RateNotes
Massachusetts$2,000,00016%Lowest exemption in US
Oregon$1,000,00016%Lowest exemption in US
New York$6,940,00016%Cliff: lose exemption if estate > 105%
Washington$2,193,00020%Highest state rate in US
Connecticut$13,610,00012%Matches federal exemption
DC$4,710,80016%Adjusted annually
Q

How can I reduce estate taxes?

Strategies include: annual gift exclusion ($18,000/person in 2024), irrevocable life insurance trusts (ILIT), charitable trusts, family limited partnerships, and using the full exemption during lifetime.

  • Annual gift exclusion: $18,000/person/year (2024) — tax-free to unlimited recipients
  • ILIT: removes life insurance proceeds from taxable estate
  • Charitable Remainder Trust: income stream + tax deduction + charity benefit
  • Grantor Retained Annuity Trust (GRAT): transfer appreciation tax-free
  • Family Limited Partnership: 20-35% valuation discounts on transferred interests
  • Lifetime gifts using exemption: lock in current $13.61M before potential 2026 sunset

Example Calculations

1Single Estate of $15,000,000

Inputs

Gross Estate Value$15,000,000
Filing StatusSingle / Widowed
Debts & Mortgages$200,000
Funeral Expenses$15,000
Charitable Gifts$0
Spouse Bequest$0

Result

Federal Estate Tax$470,000
Taxable Estate$14,785,000
Exemption Used$13,610,000
Amount Over Exemption$1,175,000
Net to Heirs$14,315,000

Total deductions = $200,000 + $15,000 = $215,000. Taxable estate = $15,000,000 - $215,000 = $14,785,000. Amount over exemption = $14,785,000 - $13,610,000 = $1,175,000. Estate tax = $1,175,000 x 40% = $470,000. Net to heirs = $15,000,000 - $215,000 - $470,000 = $14,315,000.

2Married Estate of $20,000,000 With Charitable Gifts

Inputs

Gross Estate Value$20,000,000
Filing StatusMarried (with portability)
Debts & Mortgages$500,000
Funeral Expenses$20,000
Charitable Gifts$1,000,000
Spouse Bequest$0

Result

Federal Estate Tax$0
Taxable Estate$18,480,000
Exemption Used$18,480,000
Amount Over Exemption$0
Net to Heirs$18,480,000

Total deductions = $500,000 + $20,000 + $1,000,000 = $1,520,000. Taxable estate = $20,000,000 - $1,520,000 = $18,480,000. Married exemption with portability = $27,220,000. Since $18,480,000 is below the $27,220,000 exemption, estate tax = $0. Net to heirs = $18,480,000.

3High-Value Single Estate of $25,000,000 With Charitable Gifts

Inputs

Gross Estate Value$25,000,000
Filing StatusSingle / Widowed
Debts & Mortgages$300,000
Funeral Expenses$25,000
Charitable Gifts$2,000,000
Spouse Bequest$0

Result

Federal Estate Tax$3,626,000
Taxable Estate$22,675,000
Exemption Used$13,610,000
Amount Over Exemption$9,065,000
Effective Rate16.0%
Net to Heirs$19,049,000

Total deductions = $300,000 + $25,000 + $2,000,000 = $2,325,000. Taxable estate = $25,000,000 - $2,325,000 = $22,675,000. Amount over exemption = $22,675,000 - $13,610,000 = $9,065,000. Estate tax = $9,065,000 x 40% = $3,626,000. Effective rate = $3,626,000 / $22,675,000 = 16.0%. Net to heirs = $25,000,000 - $2,325,000 - $3,626,000 = $19,049,000. The $2M charitable gift saved $800,000 in estate taxes.

Formulas Used

Taxable Estate

Taxable Estate = Gross Estate - Debts - Funeral Costs - Charitable Gifts - Marital Deduction

Calculates the estate value subject to potential tax after all allowable deductions.

Where:

Gross Estate= Total value of all assets (real estate, investments, business interests, life insurance, etc.)
Marital Deduction= Unlimited deduction for assets left to surviving U.S. citizen spouse

Federal Estate Tax

Estate Tax = Max(0, Taxable Estate - Exemption) x 40%

The federal estate tax rate is a flat 40% on the amount exceeding the exemption.

Where:

Exemption= $13,610,000 per individual; $27,220,000 for married couples with portability (2024)
40%= Federal estate tax rate applied to amounts over the exemption

Net to Heirs

Net to Heirs = Gross Estate - Total Deductions - Estate Tax

The amount beneficiaries actually receive after deductions and taxes.

Where:

Total Deductions= Sum of debts, funeral costs, charitable gifts, and marital deduction
Estate Tax= Federal estate tax owed (if any)

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Last Updated: Mar 9, 2026

This calculator is provided for informational and educational purposes only. Results are estimates and should not be considered professional financial, medical, legal, or other advice. Always consult a qualified professional before making important decisions. UseCalcPro is not responsible for any actions taken based on calculator results.

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