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Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Friday, October 12, 2012

2011 Estate and Gift Tax Statistics

IRS 2The IRS recently posted the Statistics of the Estate and Gift Tax for the past year. The top spreadsheet "shows income, deduction, and tax computation data, classified by taxability of estate tax return and size of estate. The bottom spreadsheet shows "data from a sample of returns filed during 2011, including information regarding total gifts, deductions, credits, and net tax amounts. The data are presented by tax status and size of total taxable gifts.  Below is an excerpt from this spreadsheet showing the number and amount of total gifts and annual exclusions classified by tax status and size of taxable gift." For a more detailed explanation, please visit Adam Reid blog about this the IRS releasing these tax statistics. I have provided a link below.

Table 1. Estate Tax Returns Filed in 2011,
by Tax Status and Size of Gross Estate
[Money amounts are in thousands of dollars.]


Tax status and size of gross estate
Gross estate for tax purposes



Number
Money Amount   (in thousands)




All Returns
4,588
48,009,811

Under $3.5 million
601
1,427,959

$3.5 million < $5.0 million
990
4,129,975

$5.0 million < $10.0 million
2,110
13,874,974

$10.0 million < $20.0 million
563
7,531,234

$20.0 million or more
324
21,045,670


All Taxable Returns
1,480
19,832,684

Under $3.5 million
174
428,126

$3.5 million < $5.0 million
278
1,181,171

$5.0 million < $10.0 million
654
4,443,130

$10.0 million < $20.0 million
218
2,967,290

$20.0 million or more
156
10,812,968


All Nontaxable Returns
3,108
28,177,127

Under $3.5 million
427
999,833

$3.5 million < $5.0 million
712
2,948,804

$5.0 million < $10.0 million
1,456
9,431,844

$10.0 million < $20.0 million
345
4,563,945

$20.0 million or more
168
10,232,702


[All figures are estimates based on a sample--
money amounts are in whole dollars.]
Tax status and size of taxable gifts, current period
Total gifts
Total annual exclusions
Number
Amount
[in whole dollars]
Number
Amount 
[in whole dollars]




All returns, taxable and nontaxable
219,544
50,949,668,470
209,107
9,289,355,706
$0
78,475
5,846,235,587
78,026
3,688,130,146
Less than $2,500
10,251
785,823,777
8,315
371,842,290
$2,500 under $5,000
6,970
366,805,586
6,947
286,915,844
$5,000 under $10,000
8,324
635,855,597
7,618
360,724,363
$10,000 under $25,000
24,975
1,695,285,728
23,889
872,302,122
$25,000 under $50,000
18,940
1,737,947,570
17,516
707,042,300
$50,000 under $75,000
12,041
1,366,767,680
11,848
530,816,527
$75,000 under $100,000
9,432
1,224,191,247
9,241
282,976,395
$100,000 under $250,000
25,115
5,553,271,637
23,365
954,234,979
$250,000 under $500,000
12,780
5,426,118,527
11,496
529,835,653
$500,000 under $1 million
9,201
7,343,893,148
8,133
390,199,219
$1 million or more
3,040
18,967,472,386
2,712
314,335,867
Nontaxable returns
208,562
29,067,470,991
198,851
8,234,949,491
$0
78,475
5,846,235,587
78,026
3,688,130,146
Less than $2,500
**16,264
**974,660,464
**14,374
**563,579,918
$2,500 under $5,000
**
**
**
**
$5,000 under $10,000
7,942
501,557,270
7,248
301,599,048
$10,000 under $25,000
24,011
1,510,128,793
22,981
792,085,547
$25,000 under $50,000
17,833
1,392,787,860
16,465
611,713,985
$50,000 under $75,000
11,327
1,203,627,397
11,144
467,461,200
$75,000 under $100,000
8,912
1,087,396,855
8,732
239,038,055
$100,000 under $250,000
23,522
4,935,192,366
21,976
821,925,013
$250,000 under $500,000
11,664
4,755,865,011
10,447
430,674,604
$500,000 under $1 million
8,177
6,386,592,900
7,157
299,823,572
$1 million or more
434
473,426,487
300
18,918,402
Taxable returns
10,982
21,882,197,479
10,256
1,054,406,215
$0
0
0
0
0
Less than $2,500
**958
**177,968,900
**888
**95,178,217
$2,500 under $5,000
**
**
**
**
$5,000 under $10,000
382
134,298,327
371
59,125,315
$10,000 under $25,000
964
185,156,934
908
80,216,576
$25,000 under $50,000
1,107
345,159,711
1,051
95,328,316
$50,000 under $75,000
715
163,140,283
703
63,355,327
$75,000 under $100,000
520
136,794,391
509
43,938,340
$100,000 under $250,000
1,592
618,079,271
1,389
132,309,965
$250,000 under $500,000
1,115
670,253,516
1,049
99,161,048
$500,000 under $1 million
1,024
957,300,247
976
90,375,647
$1 million or more
2,606
18,494,045,898
2,412
295,417,465

See Adam D. Reid, IRS Release 2011 Tax Stats - Estate Tax and Gift Statistics, Arkansas Tax & Estate Planning Blog, Oct. 11, 2012.

Special thanks to Adam D. Reid (Tax and Estate Planning Practice Group, Barber Law Firm) for bringing this article to my attention. 

http://lawprofessors.typepad.com/trusts_estates_prof/2012/10/2011-estate-and-gift-tax-statistics.html

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