Thomson Reuters Checkpoint Calculates Projected Inflation-Adjusted Figures for Estate and Gift Taxes for 2016
September 17, 2015
Authored by: Lana Hompluem and Alan Singer
Thomson Reuters Checkpoint has calculated the projected inflation-adjusted amounts for several transfer tax figures for 2016. These calculations are based on the average Consumer Price Index (CPI) for the 12-month period ending on August 31, 2015. Please note that these are the projected inflation-adjustments and not the official figures from the IRS which will be released later in the year.
The following relevant items are included within this report:
• The “unified credit” or lifetime gift tax and estate tax exemptions are projected to increase from $5,430,000 in 2015 to $5,450,000 in 2016.
• The generation-skipping transfer tax exemption is also projected to increase from $5,430,000 in 2015 to $5,450,000 in 2016.
• The gift tax annual exclusion is not projected to increase; it is projected to remain $14,000 in 2016.
• The gift tax annual exclusion for gifts to non-citizen spouses is projected to increase from $147,000 in 2015 to $148,000 in 2016.
Additional information on these and other projected tax related inflation-adjusted figures for 2016 can be found in the following report: 2016 Inflation-Adjusted Figures Report.