Monday, August 19, 2019

Estate Exemption for 2019 of $11,400,000

Estates greater than $11,400,000 have to pay estate tax at a top rate of 40%. All or part of the exemption amount is also portable to the surviving spouse if you file form 706 which is the estate tax return form. The executor now has to also report the values of property transferred to beneficiaries to the IRS in a taxable estate.

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