New 2026 Estate Tax Exemption Amount
The IRS has increased the estate exemption amount, potentially making the upcoming tax year more favorable for inheritances and estates.
Some states impose their own estate tax, with varying exemption amounts. For example, Massachusetts has a state estate tax exemption of $2 million, which is not indexed for inflation.
- In Nebraska, an inheritance tax is imposed on adult children when their inheritances exceed $100,000.
- In Kentucky, nephews and nieces receive a $1,000 exemption.
The Alternative Minimum Tax (AMT) was implemented to ensure that higher-income taxpayers pay a minimum amount of tax.
Before the Tax Cuts and Jobs Act (TCJA), 5.2 million Americans paid the AMT, according to Tax Policy Center data.
Author's summary: IRS increases estate exemption amount for 2026.
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