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Estimate federal estate tax using 2024 exemption and progressive brackets
The federal estate tax is a tax on the transfer of property at death. It applies to estates exceeding the exemption amount ($13.61M in 2024) and uses progressive rates from 18% to 40%. Deductions for marital transfers and charitable bequests can significantly reduce the taxable estate.
Assets left to surviving spouse (unlimited)
Debts, funeral expenses, administrative costs
Federal Estate Tax
$481,800.00
3.21% effective rate
Adjusted Estate
$14,950,000.00
Taxable Estate
$1,340,000.00
2024 Exemption
$13,610,000.00
Total Deductions
$50,000.00
| Taxable Amount | Rate |
|---|---|
| $0 to $10,000 | 18% |
| $10,001 to $20,000 | 20% |
| $20,001 to $40,000 | 22% |
| $40,001 to $60,000 | 24% |
| $60,001 to $80,000 | 26% |
| $80,001 to $100,000 | 28% |
| $100,001 to $150,000 | 30% |
| $150,001 to $250,000 | 32% |
| $250,001 to $500,000 | 34% |
| $500,001 to $750,000 | 37% |
| $750,001 to $1,000,000 | 39% |
| Over $1,000,000 | 40% |
Formula
Federal Estate Tax = Tax on (Gross Estate − Deductions − Exemption) using progressive bracketsGross Estate = Total fair market value of all assets at death
Deductions = Marital, charitable, debts, and administrative expenses
Exemption = $13.61 million per individual (2024)
Worked Example
$15M estate with $50,000 in deductions
Did you know? Only about 0.1% of estates (roughly 2,600 per year) owe any federal estate tax, because the $13.61M exemption shelters the vast majority of estates (source: Tax Policy Center).
Sources
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