EASY FEDERAL GIFT TAX CALCULATOR

Step 1. Add all gifts together:
Prior taxable gifts:
$
+ Total gifts made this year:
$
= TOTAL GIFTS:
$
Step 2. Determine tenative tax as if all gifts made in current year:
Initial amount (chart p135):
$
+ Percentage (chart p135):

( Total gifts:
$
- Excess (chart p135):
$
) = TENATIVE TAX ON ALL GIFTS:
$
Step 3. Determine tenative tax on gifts made in prior years as if made in current year:
Initial amount (chart p135):
$
+ Percentage (chart p135):

( Prior taxable gifts:
$
- Excess (chart p135):
$
) = TEN. TAX ON PRIOR TAXABLE GIFTS:
$
Step 4. Determine tentative tax for taxable gifts made in current year:
Tentative tax on all gifts:
$
- Tentative tax on prior taxable gifts:
$
= TENATIVE TAX:
$
Step 5. Determine unused applicable credit amount:
Applicable Credit Amount for Current Year:
$
- Credit Previously Used:
$
= UNUSED APPLICABLE CREDIT AMOUNT:
$
Step 6. Determine federal estate tax due:
Tenative Tax:
$
- Unused Applicable Credit Amount:
$
= FEDERAL ESTATE TAX DUE:
$


ESTATE TAX CALCULATOR
© 2000 John M. Thompson