The estate tax is a federal tax on the transfer of property when someone dies.
It applies only to very large estates whose total value is above a federal exemption amount, which is adjusted each year for inflation.
✅ Most estates do NOT owe federal estate tax.
🧾 Who Files the Estate Tax
- The estate tax return is filed by the executor or personal representative of the estate.
- Estate tax applies only if the gross estate (including cash, real estate, investments, life insurance, and other assets) exceeds the federal exemption.
📌 Example:
- Federal exemption for 2024: $13.61 million
- If the estate value is below this amount → no federal estate tax return is required
📄 Form Used
- The estate tax is reported on IRS Form 706
United States Estate (and Generation‑Skipping Transfer) Tax Return
⚠️ This form is separate from individual income tax returns.
🚫 Important Note for DIY Taxpayers
Our program does not support preparation or filing of Form 706 or estate tax returns.