Year of Transfer	Gift Tax	Estate Tax
1986	$500,000	$500,000
1987–1997	600,000	600,000
1998	625,000	625,000
1999	650,000	650,000
2000–2001	675,000	675,000
2002–2003	1,000,000	1,000,000
2004–2005	1,000,000	1,500,000
2006–2008	1,000,000	2,000,000
2009–2010*	1,000,000	3,500,000
2011	5,000,000	5,000,000
2012	5,120,000	5,120,000
2013	5,250,000	5,250,000
2014	5,340,000	5,340,000
2015	5,430,000	5,430,000
2016	5,450,000	5,450,000
2017	5,490,000	5,490,000
2018	11,180,000	11,180,000
2019	11,400,000	11,400,000
2020	11,580,000	11,580,000
2021	11,700,000	11,700,000
2022	12,060,000	12,060,000

*The estate tax was optional for decedents dying in 2010. In lieu of the estate tax, executors could opt to have the adjusted tax basis of the assets in the gross estate carry over to the heirs of the decedent. The applicable credit and exemption are zero for taxpayers who opt out of the estate tax in 2010.