Estimated share of principal operator farm estates with estate-tax returns and estate taxes, 2022F

Pie chart with 3 items.

39,534 estimated estates

Item 1, Not required to file an estate-tax return 99.01%
Item 2, Estate must file estate-tax return, estate taxes owed 0.22%
Item 3, Estate must file estate-tax return, no estate taxes owed 0.77%

Note: If an estate has a gross value greater than the exemption amount ($12.06 million in 2022), it must file a return; 2022F denotes a forecast based on 2021 data on the age distribution of farm operators and 2019 data on mortality rates. Results account for adjustments, deductions, and exemptions (including any unused exemption amount from a predeceased spouse). Estimates of unused exemption from a predeceased spouse is based on data on 2016 rates of widowhood from the U.S. Bureau of the Census. Sources: USDA, Economic Research Service using data from USDA’s 2021 Agricultural Resource Management Survey, USDA’s 2022 June Area Survey, Social Security Administration’s 2019 Actuarial Life table, Internal Revenue Service’s 2022 Farm Credit System Bank Loan Interest Rates chart, and "Number, timing, and duration of marriages and divorces: 2016," U.S. Bureau of the Census (2021).