tax brackets for estates & trusts

The new tax rates for the year 2023 have been announced. There is a slight increase in the  Federal Estate Tax Exclusion amount for 2023. So a decedent dying between Jan. 1 and Dec. 31, 2023, may be subject to an estate tax, with an applicable lifetime estate duty exclusion amount of $12,920,000 (increased from $12,600,000 in 2021).

2023 income tax brackets for estates & trusts

The tax rate schedule for estates and trusts in 2023 is as follows:

Income RangeTax Rate
$0 to $2,900 10% of income over $0
$2,90750 to $10,550 $290 + 24% of income over $2,750 
$10,550 to $14,450 $2,126 + 35% of income over $9,850 
$14,450 or more $3,491 + 37% of income over $13,450 

2022 Income Tax brackets for Estates & Trusts

Below are the tax rates and income brackets that would apply to estates and trusts that were opened for deaths that occurred in 2022. They would apply to the tax return filed in April 2023.

Income RangeTax Rate
$0 to $2,750 10% of income over $0
$2,750 to $9,850 $275 + 24% of income over $2,750 
$9,850 to $13,450 $1,979 + 35% of income over $9,850 
$13,450 or more $3,239 + 37% of income over $13,450 

2021 income tax brackets for estates & trusts

Estate’s IncomeTax rate
Upto $2,65010%
$2,651 to $9,55024%
$9,551 to $13,05035%
$13,051 & more37%

2020 income tax brackets for estates & trusts

Estate’s IncomeTax rate
Upto $2,60010%
$2,601 to $9,45024%
$9,451 to $12,95035%
Over $12,95037%

Income tax brackets for estates & trusts 2019

If taxable income is:The tax is:
Less than $2,60010% of taxable income
Over $2,600 but not over $9,300$260 plus 24% of the excess over $2,600
Over $9,300 but not over $12,750$1,868 plus 35% of the excess over $9,300
Over $12,750$3,075.50 plus 37% of the excess over $12,750

Income tax brackets for estates & Trusts 2018

Taxable income betweenTax rates
$1 – $2,54910%
$2,550 – $9,149$255 plus 24% of the excess over $2,550
$9,150 – $12,499$1,839 plus 35% of the excess over $9,150
more than $12,500$3,011.50 plus 37% of the excess over $12,500
Prashant Thakur

Prashant Thakur

Prashant Thakur is a practicing tax advisor on Income Tax Act of India . He also blogs on US taxation law (IRC) . He has more than 30 years of experience in dealing with tax issues ( 20 years on the other side of the table i.e for Income Tax department) . He has written three books - Tax Evasion Through Shares( 2008 & 2012) , Taxing Question Simple Answer (2013) and Crypto Taxation in USA (2022) . Other than taxation , he has great interest in cloud technology, WordPress and is found of small tech company .
Prashant Thakur
Prashant Thakur
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