[
    {
        "role": "user",
        "content": "did%20estate%20tax%20exempption%20decline%20in%202026%3F%20what%20was%20it%20in%202025%3F"
    },
    {
        "role": "assistant",
        "content": "No \u2014 the estate tax exemption in the U.S. did *not* decline in 2026. In fact, it *increased*. Here are the details for both 2025 and 2026:\n\n---\n\n## Estate Tax Exemption Amounts\n\n| Year | Federal Estate & Gift Tax Exemption per Individual |\n|---|---|\n| **2025** | **$13,990,000** ([cnbc.com](https://www.cnbc.com/2024/10/22/irs-estate-gift-tax-changes-2025.html?utm_source=openai)) |\n| **2026** | **$15,000,000** ([kiplinger.com](https://www.kiplinger.com/taxes/new-estate-tax-exemption-amount?utm_source=openai)) |\n\nSo instead of declining, the exemption **rose** by $1,010,000 from 2025 to 2026.\n\n---\n\n## Context: Why There Was Talk of a Decline\n\nSome confusion arose because under the original Tax Cuts and Jobs Act (TCJA) of 2017, the higher exemption amounts (as seen in 2025) were set to expire after December 31, 2025. If the law wasn\u2019t changed, the exemption would have \u201csunset\u201d and reverted to approximately **$5.6 million per person**, adjusted for inflation \u2014 an amount far lower than what 2025 offered. ([oldnational.com](https://www.oldnational.com/wealth/insights/use-it-or-lose-it-the-sunset-of-the-federal-estate-tax-exemption/?utm_source=openai))\n\nHowever, the passage of the *One Big Beautiful Bill Act* (OBBBA) on July 4, 2025, made the higher exemption **permanent**, and actually increased it slightly for 2026, raising it to $15 million per person. ([kiplinger.com](https://www.kiplinger.com/taxes/new-estate-tax-exemption-amount?utm_source=openai))\n\n---\n\nIf you meant a *state* estate tax exemption rather than the federal one, or had a different country in mind, I can pull up those numbers too \u2014 want me to check?"
    },
    {
        "role": "user",
        "content": "what%20has%20the%20exemption%20been%20historically%3F"
    },
    {
        "role": "assistant",
        "content": "Here\u2019s a look at how the U.S. federal estate tax exemption (also known as the \u201cbasic exclusion amount\u201d) has changed over time. These are *nominal amounts* (i.e., not adjusted for inflation) per individual, plus the top marginal tax rate for estates.([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai))\n\n---\n\n## History of the Federal Estate Tax Exemption & Top Rate\n\n| Time Period / Year | Exemption (Per Person) | Highest Estate (and Gift) Tax Rate* |\n|---|---|---|\n| **1916** | US$ 50,000 | 10% ([taxfoundation.org](https://taxfoundation.org/data/all/federal/federal-estate-and-gift-tax-rates-exemptions-and-exclusions-1916-2014/?utm_source=openai)) |\n| 1924\u20131925 | US$ 50,000 | ~40% ([itep.org](https://itep.org/wp-content/uploads/120618-The-Federal-Estate-Tax-Phillips-Wamhoff.pdf?utm_source=openai)) |\n| 1935\u20131940 | US$ 40,000 | 70% (in 1935) and 77% (in early 1940s for top estates) ([itep.org](https://itep.org/wp-content/uploads/120618-The-Federal-Estate-Tax-Phillips-Wamhoff.pdf?utm_source=openai)) |\n| 1977 (Q1\u2013Q2) | US$ 30,000 | 70% ([kiplinger.com](https://www.kiplinger.com/taxes/601639/estate-tax-exemption-2022?utm_source=openai)) |\n| 1977 (Q3\u2013Q4) | US$ 120,667 | 70% ([kiplinger.com](https://www.kiplinger.com/taxes/601639/estate-tax-exemption-2022?utm_source=openai)) |\n| 1982 | US$ 225,000 | 65% ([kiplinger.com](https://www.kiplinger.com/taxes/601639/estate-tax-exemption-2022?utm_source=openai)) |\n| 1984 | US$ 325,000 | 55% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 1986 | US$ 500,000 | 55% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 1987\u20131997 | US$ 600,000 | 55% ([kiplinger.com](https://www.kiplinger.com/taxes/601639/estate-tax-exemption-2022?utm_source=openai)) |\n| 1998 | US$ 625,000 | 55% ([kirksimas.com](https://kirksimas.com/wp-content/uploads/2023/03/Exemption-and-Top-Rate-By-Year-linked-PDF-2023-02-28-FINAL.pdf?utm_source=openai)) |\n| 1999 | US$ 650,000 | 55% ([kirksimas.com](https://kirksimas.com/wp-content/uploads/2023/03/Exemption-and-Top-Rate-By-Year-linked-PDF-2023-02-28-FINAL.pdf?utm_source=openai)) |\n| 2000\u20132001 | US$ 675,000 | 55% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2002 | US$ 1,000,000 | 50% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2003 | US$ 1,000,000 | 49% ([kirksimas.com](https://kirksimas.com/wp-content/uploads/2023/03/Exemption-and-Top-Rate-By-Year-linked-PDF-2023-02-28-FINAL.pdf?utm_source=openai)) |\n| 2004 | US$ 1,500,000 | 48% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2005 | US$ 1,500,000 | 47% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2006 | US$ 2,000,000 | 46% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2007\u20132008 | US$ 2,000,000 | 45% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2009 | US$ 3,500,000 | 45% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| **2010** | *Eliminated*** | 0% (for estate tax on death) ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2011 | US$ 5,000,000 | 35% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2012 | US$ 5,120,000 | 35% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2013 | US$ 5,250,000 | 40% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2014 | US$ 5,340,000 | 40% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2015 | US$ 5,430,000 | 40% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2016 | US$ 5,450,000 | 40% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2017 | US$ 5,490,000 | 40% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2018 | US$ 11,180,000 | 40% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2019 | US$ 11,400,000 | 40% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2020 | US$ 11,580,000 | 40% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2021 | US$ 11,700,000 | 40% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2022 | US$ 12,060,000 | 40% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2023 | US$ 12,920,000 | 40% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n| 2024 | US$ 13,610,000 | 40% ([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai)) |\n\n---\n\n\\* The top rate applies only to the portion of the estate that exceeds the exemption; lower portions are taxed at lower tiers.  \n\\** In 2010, under the law passed by Congress (as part of TCJA enactment and related rules), the federal estate tax was temporarily repealed for deaths that year. Some taxpayers were allowed alternate calculations.([ers.usda.gov](https://www.ers.usda.gov/index.php/topics/farm-economy/federal-tax-issues/federal-estate-taxes?utm_source=openai))\n\n---\n\nIf you want, I can also pull together a chart that shows the **inflation-adjusted value** of these exemptions\u2014helps to compare real value over time."
    }
]