Inheritance Tax Estimator
Estimate US federal estate tax from gross estate value using the 2024 exemption of $13.61M.
Returns taxable estate, marginal rate up to 40%, and tax owed.
Estate tax (sometimes called inheritance tax) is a tax on the transfer of wealth after death. In the United States, the federal estate tax applies only to estates above a certain exemption threshold.
2026 US Federal Estate Tax:
- Exemption: Approximately $13.61 million per individual ($27.22 million for married couples).
- Estates below the exemption owe $0 in federal estate tax.
- Only the amount above the exemption is taxed.
Federal Estate Tax Brackets:
| Taxable Amount | Tax Rate |
|---|---|
| $0 – $10,000 | 18% |
| $10,001 – $20,000 | 20% |
| $20,001 – $40,000 | 22% |
| $40,001 – $60,000 | 24% |
| $60,001 – $80,000 | 26% |
| $80,001 – $100,000 | 28% |
| $100,001 – $150,000 | 30% |
| $150,001 – $250,000 | 32% |
| $250,001 – $500,000 | 34% |
| $500,001 – $750,000 | 37% |
| $750,001 – $1,000,000 | 39% |
| Over $1,000,000 | 40% |
Key deductions that reduce the taxable estate:
- Marital deduction: Unlimited transfers to a surviving spouse.
- Charitable deduction: Gifts to qualified charities.
- Debts and expenses: Mortgages, funeral costs, estate administration fees.
State-level estate taxes also apply in some states (e.g., Massachusetts, Oregon, New York), often with lower exemptions starting around $1–6 million.
Worked example: Estate value: $18,000,000. Debts and funeral costs: $200,000. No surviving spouse.
- Taxable estate (after deductions): $18,000,000 − $200,000 = $17,800,000
- Exemption (single, 2024): $13,610,000
- Amount subject to tax: $17,800,000 − $13,610,000 = $4,190,000
- Federal estate tax owed (top bracket 40%): $4,190,000 × 40% ≈ $1,676,000
- Net to heirs (federal only): about $16,124,000
Estate vs. inheritance tax — terminology trap. “Estate tax” is paid out of the estate before assets reach the heirs. “Inheritance tax” is paid by the heir on what they receive. The IRS levies an estate tax only. Six US states (Iowa, Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania) impose a separate inheritance tax on heirs, with rates and exemptions varying by the heir’s relationship to the deceased.
Tip: Estate planning strategies like trusts, gifting during your lifetime, and life insurance can significantly reduce estate tax liability. Consult a tax professional for personalized advice.
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