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Seriously, why? Doesn't estate taxes only apply to large large large estates, and wouldn't apply to the majority of homeowners in America?
by thecrow1213 10y ago
Seriously, why? Doesn't estate taxes only apply to large large large estates, and wouldn't apply to the majority of homeowners in America?
- disremembered 10y ago$5,450,000 for 2016 https://www.irs.gov/Businesses/Small-Businesses-%26-Self-Employed/Frequently-Asked-Questions-on-Estate-Taxes#amirequired https://www.irs.gov/Businesses/Small-Businesses-%26-Self-Emp...
- adevine 10y agoBut note that a married couple gets twice that, so a married couple can give nearly $11 million to their children completely tax free (PLUS children get a step up in basis on any capital assets that are inherited). Only a teeny, teeny percentage of estates meet that threshold.
- themartorana 10y agoThat's federal. In NJ, the line is $675k. It's different in other states, obviously.