The federal estate tax exclusion amount for deaths occurring in 2020 will be $11,580,000 per individual ($23,160,000 per married couple if portability is elected). The 2020 amount reflects an increase of $180,000 over the 2019 amount of $11,400,000.
The federal exclusion amount is scheduled to fall back to $5,000,000 (adjusted for inflation) in 2025 unless Congress decides otherwise. It’s possible that Congress could vote to extend the higher exclusion amount beyond 2025 but many see this as unlikely especially in light of the recent forecasting from the CBO projecting that the deficit will rise over $1 trillion in 2020 and will likely stay above that mark for at least the next decade.
Read more: US Budget Deficit Rises to $209 Billion in November (New York Times)
Federal Estate Tax Exclusion Amounts (2009 to 2020)
| YEAR | EXCLUSION AMOUNT |
|---|---|
| 2009 | $3,500,000 |
| 2010 | Repealed |
| 2011 | $5,000,000 |
| 2012 | $5,120,000 |
| 2013 | $5,250,000 |
| 2014 | $5,340,000 |
| 2015 | $5,430,000 |
| 2016 | $5,450,000 |
| 2017 | $5,490,000 |
| 2018 | $11,180,000 |
| 2019 | $11,400,000 |
| 2020 | $11,580,000 |