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    Wisconsin Lawyer
    March 01, 2011

    Wisconsin and Federal Estate and Gift Taxes: EGTRRA Provisions as Amended by the TRA 2010

    Michael W. Wilcox

    Wisconsin LawyerWisconsin Lawyer
    Vol. 84, No. 3, March 2011

    2009 2010 2011 2012 2013
    Federal Gift Tax Exemption $1 million $1 million $5 million $5 million $1 million
    Estate Tax Exemption $3.5 million $5 million $5 million $5 million $1 million
    GST Exemption $3.5 million $5 million $5 million $5 million $1.36 million
    Gift Tax Rate 45% 35% 35% 35% 41-55%
    Estate Tax Rate 45% 35% 35% 35% 41-55%
    Carryover Basis Applies No Optional No No No
    Unified Gift and Estate Taxes No No Yes Yes No
    Portability of Estate Tax No No Yes Yes No
    Portability of Gift Tax No No Yes Yes No
    Portability of GST Tax No No No No No
    State Death Tax Credit No No No No Yes


    Due Dates Extended for 2010
    Estate Tax Form 706 Yes
    Gift Tax Form 709 Yes
    Generation-Skipping Transfers Yes
    Generation-Skipping Allocations No
    Disclaimers - Bequests Yes
    Disclaimers - Gifts No
    Carryover Basis Form 8939 No

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