The Expanded Portability for Estate Tax Exclusion

Recently we have filed several estate tax returns to take advantage of the portability of a deceased spouse’s unused exclusion (DSUE). The gift and estate lifetime exemption is $12.06 million in 2022 for each taxpayer. That means that a married couple will not pay tax on $24.12 million in 2022. Assuming no legislation is introduced, this amount will be halved starting on January 1, 2026.