Updated June 17, 2026
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The federal estate tax exemption for 2026 is $15 million per individual, or $30 million for a married couple using portability. Estates with a gross value below the applicable exemption owe no federal estate tax. The exemption is indexed for inflation and Congress may change it; confirm the current figure with a tax professional before planning around it.
How the exemption works
The federal estate tax is assessed on the taxable estate: the gross estate (all assets at fair market value at death) minus allowable deductions for debts, funeral expenses, charitable bequests and assets passing to a surviving U.S. citizen spouse under the unlimited marital deduction. The exemption is then subtracted from that net figure. Only the amount above the exemption is taxed.
The 2026 exemption and TCJA history
The Tax Cuts and Jobs Act of 2017 roughly doubled the estate tax exemption from about $5.49 million (2017) to approximately $11.18 million (2018), with annual inflation adjustments. Those provisions were scheduled to expire after 2025, which would have dropped the exemption back to roughly $7 million. Congress instead made the higher exemption permanent through 2026 legislation and set it at $15 million. Future Congresses can revise it; check the IRS website or consult a CPA for the most current figure.
Portability for married couples
If one spouse dies without using the full exemption, the surviving spouse can "port" the unused portion, giving the couple a combined $30 million exemption. Portability must be elected on a timely filed estate tax return (Form 706) for the first spouse to die, even when no tax is owed. Failing to file and make that election is a common and expensive mistake.
State exemptions are much lower
About a dozen states and the District of Columbia impose their own estate or inheritance taxes, with exemptions well below the federal level. Oregon and Massachusetts, for example, tax estates above $1 million. See which states have an estate or inheritance tax for a state-by-state comparison. An estate that owes nothing federally can still face a meaningful state tax bill.
This article is for educational purposes only and is not tax or legal advice. Exemption figures are current as of the date above and subject to change by Congress. Consult an estate attorney or CPA for advice on your specific situation.
See if your estate owes tax
Enter your estate value, apply the 2026 federal exemption and your state's rules, and get your estimated estate tax in under a minute.