Estate Tax Calculator

This calculator weighs your estate against the $13.61 million 2024 federal exemption, applies the graduated rates on anything above it, and factors in spousal portability so you can see the taxable estate, the federal tax owed, and the net amount likely to reach your heirs.

For personal planning only — not financial advice.

Reviewed by CalculatorDrive Finance Editorial Board · Last updated

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Enter your estate value and deductions, then click Calculate to see estimated federal and state taxes and net to heirs.

The short answer

Almost no one owes federal estate tax: the 2024 exemption is $13.61 million per person, and only the amount above it gets taxed, at rates climbing to 40%. A $15 million estate with $500,000 in debts and $1 million in charitable gifts nets to $13.5 million — under the line, so $0 owed. Push that to $20 million with the same debts and the taxable slice is $5.89 million, costing about $2,301,800 in federal tax.

Key takeaways

  • The 2024 federal exemption is $13.61 million per person — only estates above it owe federal estate tax.
  • A $19.5 million net estate (after debts/deductions) pays roughly $2,301,800 in federal tax, an 11.8% effective rate on the whole net estate, not 40%.
  • Spousal portability can roughly double the exemption to about $27.22 million combined, turning that same $2,301,800 bill into $0 — but only if formally elected.
  • The state tax figure shown is a flat illustrative estimate, not specific to the state you select — actual state estate/inheritance rules vary and many states have none.

The exemption and when tax actually kicks in

The federal government doesn't tax an estate's full value — it taxes what's left after debts and deductions, minus a large exemption. For 2024 that exemption is $13.61 million per person. A $15 million gross estate with $500,000 in debts and $1 million in charitable bequests nets to:

Net estate: $15,000,000 − $500,000 − $1,000,000 = $13,500,000

Taxable amount: $13,500,000 − $13,610,000 exemption = $0 (floored at zero)

Because the net estate falls just under the exemption, federal estate tax owed is $0 — this is the outcome for the overwhelming majority of estates, which is why estate tax rarely applies outside very large estates.

How the graduated rates work above the exemption

Once an estate crosses the exemption, only the excess is taxed, and it's taxed progressively — starting at 18% on the first $10,000 of the excess and climbing to 40% on any excess above $1,000,000. Take a $20 million estate with $500,000 in debts:

Net estate: $19,500,000; taxable amount above exemption: $5,890,000

Federal estate tax: about $2,301,800

Effective rate on the full net estate: 11.8% — well below the 40% top marginal rate

The 40% figure often quoted in headlines is the marginal rate on the last dollar of a very large excess, not the rate applied to the whole estate. Because the first $1,000,000 of any taxable excess is taxed at the lower graduated rates before 40% applies, the effective (blended) rate is always lower than 40% unless the taxable excess is enormous.

Spousal portability: doubling the exemption

When the first spouse in a married couple dies without using their full exemption, the unused portion can be "ported" to the surviving spouse — but only if the executor files an estate tax return electing portability, even when no tax is due. On the same $19.5 million net estate from above, with a full $13.61 million ported exemption added to the survivor's own:

Combined exemption: $13,610,000 + $13,610,000 = $27,220,000

Taxable amount: $19,500,000 − $27,220,000 = $0

Federal estate tax saved versus no portability: $2,301,800

That's the entire tax bill eliminated on an estate that otherwise would have owed over $2.3 million — which is why portability elections are one of the most consequential (and most commonly missed) steps in estate administration for married couples.

About the state tax estimate

The state selector on this calculator is informational — the state tax figure it displays is a simplified, flat illustrative rate applied above a $1 million threshold, not a lookup of any particular state's actual estate or inheritance tax rules. In reality, most states impose no estate tax at all, and the handful that do (along with the states that instead tax inheritances received by beneficiaries) each set their own exemption thresholds and rates. Treat the figure here as a placeholder for "there may be a state-level cost too," and confirm the real number with your state's tax authority or an estate planning attorney.

Related calculators

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  • IRA Calculator — model tax-advantaged account growth, a common piece of larger estates.
  • Income Tax Calculator — estimate the income tax side of your finances alongside estate planning.

Frequently Asked Questions

What is the federal estate tax?

The federal estate tax applies to the transfer of a deceased person's assets above a lifetime exemption amount, which is $13.61 million per person for 2024. A $15 million estate with $500,000 in debts and $1 million in charitable bequests nets to a $13.5 million taxable estate — still under the exemption, so it owes $0 in federal estate tax.

How much federal estate tax is owed once an estate exceeds the exemption?

Only the amount above the $13.61 million exemption is taxed, at graduated rates up to 40%. A $20 million estate with $500,000 in debts nets to $19.5 million, leaving $5.89 million taxable — which comes to about $2,301,800 in federal estate tax, an 11.8% effective rate on the full net estate.

How does spousal portability change the exemption?

Portability lets a surviving spouse add a deceased spouse's unused exemption to their own, potentially doubling the shield to roughly $27.22 million combined. On that same $19.5 million net estate, portability with a full $13.61 million ported exemption would bring the federal tax to $0 instead of $2,301,800 — a difference worth formally electing on the estate tax return.

Why does this calculator show a state tax estimate even though I selected a state?

The state field is for your own reference — the state tax figure shown is a simplified illustrative estimate (a flat rate applied above $1 million of net estate), not a lookup of your specific state's actual rules. Real state estate and inheritance taxes vary widely, and many states impose none at all, so confirm your state's current law separately.

When should I consult an estate planning attorney?

Seek professional guidance for estates near or above exemption limits, blended families, business interests, or multi-state property. An attorney can structure trusts, gifts, and beneficiary designations, and file the portability election correctly, to align with your goals.

How do I use this estate tax calculator?

Enter total estate value, debts, charitable gifts, and marital transfers. Results show the taxable estate above the current exemption, the estimated federal estate tax, an illustrative state tax figure, and the net amount projected to reach your heirs.

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