| Publication 553 |
2000 Tax Year |
2000 Changes
Unified Credit Increased
The applicable credit amount for the unified credit for gift and
estate taxes increases to $220,550 for gifts made in 2000 and for the
estates of decedents dying in 2000. In 1999, the amount was $211,300.
The following table lists the unified credit for years after 1999.
| Year |
Unified Credit |
| 2000 and 2001 |
$220,550 |
| 2002 and 2003 |
229,800 |
| 2004 |
287,300 |
| 2005 |
326,300 |
| After 2005 |
345,800 |
Estate Tax Return Filing Requirement Increased
Generally, an estate tax return must be filed for the estate of a
U.S. citizen or resident dying in 2000 if the gross estate is more
than $675,000. In 1999, the amount was $650,000.
The following table lists the filing requirement for gross estates
of decedents dying after 1999.
|
Filing |
| Year of Death |
Requirement |
| 2000 and 2001 |
$ 675,000 |
| 2002 and 2003 |
700,000 |
| 2004 |
850,000 |
| 2005 |
950,000 |
| After 2005 |
1,000,000 |
For more information on estate and gift taxes, see Publication 950,
Introduction to Estate and Gift Taxes, and the following
forms and their instructions.
- Form 706, United States Estate (and Generation-Skipping
Transfer) Tax Return.
- Form 709, United States Gift (and Generation-Skipping
Transfer) Tax Return.
- Form 709-A, United States Short Form Gift Tax
Return.
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