What's the 2024 Estate Tax Exemption?

The estate tax exemption amount increased for 2024. Will your heirs escape a tax bill?

gold numbers 2024
(Image credit: Getty Images)

The federal estate tax exemption amount went up again for 2024. A higher exemption means more estates may be exempt from the federal tax this year, which can save heirs from a hefty tax bill. 

The amount is inflation-adjusted by the IRS each year. So, while the increase probably isn’t a surprise, it’s still a big deal for many wealthy taxpayers.

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RateTaxable Amount (Value of Estate Exceeding Exemption)
18%$0 to $10,000
20%$10,001 to $20,000
22%$20,001 to $40,000
24%$40,001 to $60,000
26%$60,001 to $80,000
28%$80,001 to $100,000
30%$100,001 to $150,000
32%$150,001 to $250,000
34%$250,001 to $500,000
37%$500,001 to $750,000
39%$750,001 to $1 million
40%More than $1 million
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Federal Estate Tax Exemption Amounts 2017-2024
PeriodExemption Amount

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Katelyn Washington
Tax Writer

Katelyn has more than 6 years’ experience working in tax and finance. While she specializes in tax content, Katelyn has also written for digital publications on topics including insurance, retirement and financial planning and has had financial advice commissioned by national print publications. She believes that knowledge is the key to success and enjoys helping others reach their goals by providing content that educates and informs.