2000 Tax Help Archives  

Publication 553 2000 Tax Year

2000 Changes

This is archived information that pertains only to the 2000 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

Unified Credit Increased

The applicable credit amount for the unified credit for gift and estate taxes increases to $220,550 for gifts made in 2000 and for the estates of decedents dying in 2000. In 1999, the amount was $211,300.

The following table lists the unified credit for years after 1999.

Year Unified Credit
2000 and 2001 $220,550
2002 and 2003 229,800
2004 287,300
2005 326,300
After 2005 345,800

Estate Tax Return Filing Requirement Increased

Generally, an estate tax return must be filed for the estate of a U.S. citizen or resident dying in 2000 if the gross estate is more than $675,000. In 1999, the amount was $650,000.

The following table lists the filing requirement for gross estates of decedents dying after 1999.

Filing
Year of Death Requirement
2000 and 2001 $ 675,000
2002 and 2003 700,000
2004 850,000
2005 950,000
After 2005 1,000,000

For more information on estate and gift taxes, see Publication 950, Introduction to Estate and Gift Taxes, and the following forms and their instructions.

  • Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return.
  • Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return.
  • Form 709-A, United States Short Form Gift Tax Return.

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