Currently, every individual who is a resident and citizen of the United States qualifies for an estate tax exemption.
The 2020 estate tax exemption amount is $11.58 million and is indexed for inflation. This means that the first $11.58 million dollars of property a person owns at death is exempt from estate taxes. If a person has made gifts during his lifetime, the exemption at death may be reduced by the amount of the gifts.
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