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Tax Relief Act of 2010:
Gift and Generation-Skipping Transfer Tax
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Before
Act |
After
Act |
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Gift Tax |
For
2010: $1 million lifetime Gift tax exemption equivalent, top
rate of 35%
For 2011: $1 million lifetime exemption, top rate of 55%
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For
2011 and 2012, there will be a $5 million lifetime exemption
equivalent, estate tax rates (top rate of 35%) applies |
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Generation-skipping Transfer Tax (GSTT) |
No GSTT
for 2010, $1 million, exemption for 2011 with tax rate of
55% |
GSTT
exemption amount for 2010, 2011, and 2012 is $5 million; 0%
rate applies for 2010; tax rate of 35% applies for 2011 and
2012 |
See also:
Summary |
Tax Rates |
Estate Tax |
Gift and Transfer Tax |
Business and
SE |
Tax Credits
|
Deductions |
Other
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This information has no regard to the specific investment
objectives, financial situation and particular needs of any specific
recipient of this information and investments discussed may not be
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