New 2026 Estate Tax Exemption Amount
The IRS has increased the estate exemption amount, potentially making the upcoming tax year more favorable for inheritances and estates.
Some states impose their own estate tax, with exemption amounts that may be less generous than the federal exemption. For example, in Massachusetts, the state estate tax exemption is $2 million and is not indexed for inflation.
- In Nebraska, an inheritance tax is imposed on adult children when their inheritances exceed $100,000.
- In Kentucky, nephews and nieces receive only a $1,000 exemption.
The Alternative Minimum Tax (AMT) was implemented to ensure that higher-income taxpayers pay a minimum amount of tax.
According to the Tax Policy Center, before the Tax Cuts and Jobs Act (TCJA), 5.2 million Americans paid the AMT.
Author's summary: IRS increases estate tax exemption for 2026.
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