How it works
The tax applies to the taxable estate plus lifetime taxable gifts, minus the unified credit equal to tax on $15,000,000. Above the exemption the rate is effectively 40%. A surviving spouse can use the late spouse’s unused exemption (portability) if an estate tax return is filed.
FAQ
Will my estate owe federal estate tax in 2026?
Only if the taxable estate plus lifetime gifts exceeds $15 million ($30 million for a married couple using portability).
Sources (checked Nov 6, 2026): Rev. Proc. 2025-32; IRC sec. 2001 and 2010; P.L. 119-21.