Pie chart with 3 items.
39,988 estimated estates
Item 1, Not required to file an estate-tax return 99.0%
Item 2, Estate must file estate-tax return, estate taxes owed 0.2%
Item 3, Estate must file estate-tax return, no estate taxes owed 0.8%
Note: If an estate has a gross value greater than the exemption amount ($12.92 million in 2023), it must file a return; 2023F denotes a forecast based on 2022 data on the age distribution of farm operators and 2020 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 are based on data on 2016 rates of widowhood from the U.S. Bureau of the Census.
Source: USDA, Economic Research Service using data from USDA’s 2022 Agricultural Resource Management Survey, USDA’s 2023 June Area Survey, Social Security Administration’s 2020 Actuarial Life table, Internal Revenue Service’s 2023 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).