[20171117]IF10704_税收改革：遗产和赠与税.pdf

https:/crsreports.congress.gov Updated November 17, 2017Tax Reform: Estate and Gift TaxThe estate and gift tax is a unified tax, so that assets transferred as gifts during a persons lifetime are combined with those transferred at death (bequests) and subject to a single rate schedule. The tax is imposed on the decedents estate, and the rate structure applies to total bequests and gifts given; heirs are not subject to tax. Rates and Basic Exemptions The exemption for 2017 is $5.49 million, and it is indexed for inflation. Although the rates of the tax are graduated, the exemption is applied in the form of a credit and offsets taxes applied at the lower rates. Thus the taxable estate is subject to a flat 40% rate. Individuals are allowed to exempt annual gifts made in 2017 of $14,000 per recipient, which are not counted as part of the lifetime exemption. The annual gift tax exemption is indexed for inflation in $1,000 increments. A generation-skipping tax is also imposed, to address estate tax avoidance through gifts and bequests to a later generation. Other Exemptions and Deductions Transfers between spouses are exempt. Estates are allowed to take deductions for charitable contribu