Estate, Gift, And Trust Tax Provisions
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ESTATE, GIFT, AND TRUST
This section includes amounts and limitations
related to Forms 706, 709, and 1041.
Form 706—U.S. Estate (and Generation-Skipping Transfer) Tax Return
2012
2013
2014
Estate tax applicable exclusion amount
$5,120,000*
$5,250,000*
$5,340,000*
Estate tax applicable credit amount
$1,772,800
$2,045,800
$2,081,800
Special use valuation reduction limit
$1,040,000
$1,070,000
$1,090,000
Generation-skipping transfer exemption (GST)
$5,120,000
$5,250,000
$5,340,000
Estate value qualifying for 2% interest for installment payments
$1,390,000
$1,430,000
$1,450,000
* If the estate elects, the amount of the exclusion that is unused by the estate of the first spouse to die can be used by the estate of the second spouse to die.
Form 709—U.S. Gift (and Generation-Skipping Transfer) Tax Return
2012
2013
2014
Gift tax applicable exclusion amount
$5,120,000*
$5,250,000*
$5,340,000*
Gift tax applicable credit amount
$1,772,800
$2,045,800
$2,081,800
Annual exclusion for gifts
$13,000
$14,000
$14,000
* If the estate elects, the amount of the exclusion that is unused by the estate of the first spouse to die can be used by the surviving spouse.
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Estate, Gift, and Trust
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