Estate Tax Calculator
Calculate federal estate tax on wealth transfers at death. Most estates pay no tax due to the generous exemption, but large estates face rates up to 40%.
2024 Estate Tax Exemption
| Filing Status | Exemption |
|---|---|
| Individual | $13.61 million |
| Married (portability) | $27.22 million |
Estate Tax Rates
| Taxable Estate | Rate |
|---|---|
| $0 - $10,000 | 18% |
| $10,001 - $20,000 | 20% |
| $20,001 - $40,000 | 22% |
| ... | ... |
| Over $1,000,000 | 40% |
Estate Tax Calculation
``javascript
function calculateEstateTax(grossEstate, deductions = 0) {
const exemption = 13610000; // 2024
const taxableEstate = Math.max(0, grossEstate - deductions - exemption);
// Simplified: flat 40% on amounts over exemption
const estateTax = taxableEstate * 0.40;
return {
grossEstate,
exemption,
taxableEstate,
estateTax,
effectiveRate: (estateTax / grossEstate * 100).toFixed(2) + '%'
};
}
``
Planning Strategies
| Strategy | Purpose |
|---|---|
| Lifetime gifts | Use annual exclusion ($18k/person) |
| Irrevocable trusts | Remove assets from estate |
| Charitable giving | Reduce taxable estate |
| Life insurance trusts | Exclude policy from estate |