2012 Estate Tax Exclusion

For an estate of any decedent dying during calendar year 2012, the basic exclusion from estate tax amount is $5,120,000, up from $5,000,000 for calendar year 2011. Also, if the executor chooses to use the special use valuation method for qualified real property, the aggregate decrease in the value of the property resulting from the choice cannot exceed $1,040,000, up from $1,020,000 for 2011.

Rev. Proc. 2011-52

2012 Gift Tax Annual Exclusion

The annual exclusion for gifts made in 2012 will remain at $13,000.

 

Rev. Proc. 2011-52