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Federal estate tax returns filed for 2004 decedents.

An estimated 42,239 Federal estate tax returns (Forms 706) were filed for 2004 decedents, a 61-percent decrease from the 109,562 returns filed for decedents who died in 2001, the last year for which a comparable estimate was made. (1) This decrease is largely the result of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), which increased the filing threshold from $675,000 for 2001 deaths to $1.5 million for 2004 deaths.

Estate tax returns filed for 2004 decedents with gross estates above $1.5 million reported a combined $185.9 billion in total gross estate. The largest asset type in the overall portfolio of these decedents was publicly traded stock, valued at $51.5 billion, followed by investment real estate and tax-exempt bonds, valued at $27.2 billion and $18.3 billion, respectively. Estates also reported about $3.0 billion of assets held in family limited partnership interests (FLPs). Valuation discounts taken against total assets accounted for $6.5 billion. Of this total, $3.5 billion were reported on assets held in FLPs.

Approximately 20.6 percent of returns filed for 2004 decedents reported a bequest to charity. Larger estates were more likely to report a charitable bequest and, on average, left a larger share of total gross estate to charity. After accounting for charitable bequests, marital bequests, and other deductions and credits, about 45.7 percent of returns filed for 2004 decedents reported estate tax liability. These 19,294 returns combined reported $22.2 billion in net estate tax.

Background: Federal transfer tax law and eGtRRA of 2001

The Federal estate tax, the gift tax, and the generation-skipping transfer tax compose the Federal transfer tax system. The Federal estate tax, passed into law with the Revenue Act of 1916 and described in Internal Revenue Code (IRC) section 2001, is neither a tax on property nor an inheritance tax on the receipt of property. Rather, the estate tax is a tax on the right to transfer property at death. For deaths that occurred in 2004, the filing threshold for property transfers at death was $1.5 million in total gross estate.

The gift tax, applied to lifetime transfers of property, was imposed by the Revenue Act of 1932, in part to prevent estate tax avoidance. Prior to passage of the 1932 Act, individuals could transfer assets during life and thereby avoid estate taxation at death. Under current law, an individual may give up to $12,000 per year to any number of recipients with no Federal gift tax liability.

The generation-skipping transfer (GST) tax, imposed by the Tax Reform Act (TRA) of 1976 and later modified by the 1986 Tax Reform Act, ensures that the transmission of hereditary wealth is taxed at each generational level. This additional tax is applied to the value of property transferred to an individual or individuals two or more generations below that of the decedent. The creation of GST trusts, distributions from the principal of trusts, and the termination of income interests are taxable events under generation-skipping transfer tax law.

Direct transfers are also taxable under GST law. Qualifying transfers in excess of $1.5 million are currently subject to the generation-skipping transfer tax. On passage of TRA of 1976, estate and gift taxes shared a unified framework of graduated and progressive tax rates, while the generation-skipping transfer tax applied the maximum Federal estate tax rate to taxable generation-skipping transfers.

With the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001, Congress made significant changes to the Federal transfer tax framework. Most noteworthy, of course, was lawmakers' decision to eventually repeal the estate tax, as well as the generation-skipping transfer tax. The exemption amount for estates increased from $675,000 for 2001 deaths to $1.0 million for 2002 deaths to $1.5 million for 2004 deaths (Figure A). The exemption increased to $2.0 million for 2006 deaths and will rise to $3.5 million for 2009 deaths. For 2010 deaths, no estate tax will apply.

The highest estate and GST tax rate will decrease from 55 percent for 2001 deaths to 45 percent for deaths in 2007-2009. The lifetime GST exemption remained at $1.0 million, adjusted for inflation, until 2004 when the GST exemption became equal to the estate tax exemption of $1.5 million; the two exemptions will remain equal through 2009. Under EGTRRA, the lifetime exemption for gifts increased from $675,000 in 2001 to $1.0 million for gifts given in 2002, and will remain at $1.0 million through 2010 and beyond, since Congressional lawmakers did not repeal the Federal gift tax. EGTRRA includes a "sunset" requirement, which effectively means that all provisions set forth in the 2001 Act will expire after December 31, 2010.

Tax Law in Effect for 2004 Deaths

The estate of a decedent who, at death, owns assets valued in excess of the estate tax applicable exemption amount, or filing threshold, must file Form 706, U.S. Estate (and Generation-Skipping Transfer) Tax Return. For decedents who died in 2004, the exemption amount was $1.5 million. For estate tax purposes, the value of property included in gross estate is fair market value (FMV), defined as "the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of all relevant facts," according to Regulation 20.2031-1(b) of the IRC.

The gross estate consists of all property, whether real or personal, tangible or intangible, including "all property in which the decedent had an interest at the time of his or her death and certain property transferred during the lifetime of the decedent without adequate consideration; certain property held jointly by the decedent with others; property over which the decedent had a general power of appointment; proceeds of certain insurance policies on the decedent's life; dower or curtesy of a surviving spouse; and certain life estate property for which the marital deduction was previously allowed." Specific items of gross estate include real estate, cash, stocks, bonds, businesses, and decedent-owned life insurance policies, among others.

Assets of gross estate are valued on a decedent's date of death, unless the estate's executor or administrator elects to value assets on an alternate valuation date, 6 months from the date of death, as described in IRC section 2032. Alternate value may be elected only if the value of the estate, as well as the estate tax, is reduced between the date of death and the alternate date. The estate tax return is due 9 months from the date of the decedent's death, although a 6-month extension is commonly allowed.

Decedent Profile

In 2004, an estimated 42,239 individuals died with gross estates above the estate tax exemption amount of $1.5 million. These decedents represented 0.02 percent of the adult population of the United States, and their deaths represented about 1.8 percent of all adult deaths occurring in that year. (2) Males made up 56.2 percent of the 2004 estate tax decedent population, although they represented slightly less than half of both the living population and adult deaths during 2004. Male decedents owned more than $110 billion, or 59.3 percent, of total gross estate reported on all estate tax returns filed for 2004 decedents (Figure B). The estates of male decedents comprised an average of $4.65 million in total gross estate, although this varied by marital status.

Married men, who made up 62.8 percent of the total, had the largest average estate, $4.83 million. Estates of single men, which represented only 7.8 percent of the total, reported the smallest average estate, $3.47 million. Not surprisingly, almost 98.3 percent of the estates of married men reported a deduction for a bequest to a surviving spouse. These deductions totaled $45.6 billion, or 63.3 percent of combined gross estate. Consequently, only 9.1 percent of returns filed for married males reported a tax liability.

Female decedents made up 43.8 percent of the 2004 estate tax population, and their estates reported a combined $75.6 billion in total gross estate, about 40.7 percent of the total reported on all returns. These estates reported an average gross estate of $4.09 million, although, like estates for their male counterparts, this average varied by marital status.

The majority of female decedents, 61.4 percent, were widowed, and estates for these decedents reported an average of $4.11 million in total gross estate. Only 25.3 percent of female decedents were married, although these women had the largest average gross estate, $4.48 million.

As shown in Figure C, both male and female estate tax decedents outlived their counterparts in the general population. The average age at death for men in the 2004 estate tax decedent population was 77.2, compared to 75.2 for men in the general population, while the averages for women were 82.0 and 80.4, respectively. This is consistent with research demonstrating that wealthier individuals live longer and are healthier than less wealthy individuals. (3)

Figure C also shows the increasing longevity of both the estate tax decedent population and the general population over the past 12 years, particularly for men. In 1992, male estate tax decedents were 74.6 years old on average, about 2 1/2 years younger than the average in 2004. For female estate tax decedents, the increase in longevity was slightly smaller, as female estate tax decedents in 1992 were an average of 80.2 years old, just less than 2 years younger than the average in 2004.

Occupation and Industry

The usual occupation and industry in which a decedent worked, whether actively working or retired at death, is reported on the Federal estate tax return and on most State-issued death certificates. (4) Figure D shows that the majority of decedents in the 2004 estate tax population were employed in management and professional occupations. The single most common occupation was chief executive, reported for 3,339 decedents, nearly 8 percent of all decedents. Decedents employed in healthcare occupations made up the second largest group, 6.6 percent, followed by teachers, librarians, and curators, who combined for 6.2 percent of the total. Sales supervisors, sales-people, and other administrative occupations each made up about 5 percent of the total, while jobs as engineers, architects, and surveyors made up a little more than 4 percent of the total.

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Decedents employed in financial and management occupations had the highest average gross estates, $6.1 million and $5.8 million, respectively. These averages were significantly higher than the average for the entire 2004 decedent population, $4.4 million. Among those in the management occupation group, chief executives had the highest average gross estate, $7.9 million. Conversely, decedents employed in each of the other broad occupation groups had average gross estates below the overall average, $4.4 million. Decedents employed in administrative support reported the lowest average gross estate, $2.7 million.

Figure D also shows that the distribution of occupation varies significantly for decedents in different gross estate size classes. For example, while 22.2 percent of decedents from estates with less than $3.5 million in gross estate were employed in management, the comparable figure for decedents from estates with $3.5 million or more in gross estate was 30.1 percent. Within this broad group, chief executives made up 6.7 percent of the decedents from estates with less than $3.5 million but 11.2 percent of decedents from estates with $3.5 million or more. Significant differences also exist for lawyers and judges, who made up 3.2 percent of decedents from estates with less than $3.5 million but 4.7 percent from estates with $3.5 million or more.

As shown in Figure E, the distribution of industries in which decedents were employed also varies by size of gross estate. Overall, the most common industry group for decedents was education, health, and social services, 13.8 percent, followed by finance, insurance, and real estate (FIRE), 10.4 percent. For decedents from estates with $3.5 million or more in gross estate, however, the FIRE industry group was more common, 13.5 percent of the total, while decedents employed in the education, health, and social services group made up only 12.2 percent of the total. Decedents employed in the professional services industry group made up a slightly higher percentage of the total for estates with $3.5 million, 10.8 percent, than for estates with less than $3.5 million, 9.3 percent.

These differences are reflected in the average size of gross estate across industry groups, shown in column 3 of Figure E. Estates for decedents employed in FIRE reported the highest average gross estate, $5.54 million, followed by professional services, $5.16 million. In contrast, decedents employed in the education, health, and social services industry group had an average gross estate of only $3.87 million.

Asset Portfolios

In accordance with IRS rules and to substantiate reported values of total gross estate, estate tax return preparers must report inventories of decedents' asset portfolios on Federal estate tax returns. Consequently, these returns provide a rich source of data on the asset holdings of decedents. For estate tax purposes, the value of property included in gross estate is fair market value (FMV). Reported asset values may be reduced from FMV by the use of valuation discounts for certain characteristics or qualities like minority ownership or lack of marketability. (5) The estimates reported in this section are postdiscount estimates, i.e., after the value of ownership interests have been reduced by any discounts.

Of the $185.9 billion in total gross estate reported by estates for 2004 decedents, the largest share, 27.7 percent, was held in publicly traded stock (Figure F). Investment real estate accounted for the second-largest share, 12.8 percent of the total, followed by tax-exempt bonds and cash assets, 9.9 percent and 9.4 percent, respectively. As shown in Figure F, the asset distribution of decedents' portfolios varied significantly by size of total gross estate. In some figures and text below, estates are classified by size of total gross estate into three categories: small (estates with less than $3.5 million in gross estate), medium (estates with at least $3.5 million but less than $5 million in gross estate), and large (estates with $5 million or more in gross estate).

Several asset types, including publicly traded and closely held stock, and limited partnerships, accounted for increasingly large portions of the portfolios as estate size increased. Publicly traded stock made up 22.5 percent of the portfolio of small estates, compared with 25.7 percent of medium estates and 31.6 percent of large estates. Similarly, closely held stock made up only 2.3 percent of small estates, compared with 4.8 percent of medium estates and 10.2 percent of large estates. Limited partnerships accounted for 1.0 percent of small estates but 1.4 percent of medium estates and 3.9 percent of large estates. In contrast, cash assets, personal residences, and retirement assets made up less significant parts of the portfolio as estate size increased.

As shown in Figure G, the asset composition of estates also varied significantly by the sex and age of decedents. Overall, publicly traded stock was the largest asset type for both male and female decedents, although female decedents, on average, held more of their portfolios in this asset type, 33.1 percent, than their male counterparts, 24.0 percent. For both men and women, publicly traded stock made up a larger percentage of the portfolio of older decedents than of younger decedents. For the youngest female decedents (under age 50), this asset made up only 15.4 percent of total gross estate, compared to 19.3 percent for middle-age decedents (ages 50 through 64), and 34.3 percent for older decedents (ages 65 and over).

The same pattern can be observed for male decedents. Female decedents also held more of their portfolios in tax-exempt bonds (11.2 percent), cash assets (10.3 percent), and personal residences (9.5 percent) than their male counterparts. Like publicly traded stock, tax-exempt bonds accounted for a larger percentage of the portfolio of older decedents, for both men and women. For the youngest female decedents, this asset type made up 4.5 percent of total gross estate, compared to 6.4 percent for middle-age decedents, and 11.7 percent for older decedents. A similar pattern can be observed for male decedents.

Male decedents held more of their portfolios in closely held stock (8.5 percent), retirement assets (8.6 percent), limited partnerships (3.2 percent), and insurance (3.1 percent) than their female counterparts. For both male and female decedents, closely held stock accounted for a larger percentage of the portfolio of younger decedents than older decedents. For the youngest male decedents, this asset type made up 13.4 percent of total gross estate, compared to 12.6 percent for middle-aged decedents, and 7.8 percent for older decedents.

A similar pattern can be seen for their female counterparts. Insurance also accounted for a much larger percentage of the portfolios of younger decedents of both sexes. For example, insurance made up an average of 21.5 percent of the estates of the youngest male decedents, compared to 10.2 percent for middle-age decedents, and 1.6 percent for older male decedents. This finding is consistent with research suggesting that households headed by older individuals tend to purchase less life insurance due to higher premiums and substitution with other financial assets. (6)

Estates with Family Limited Partnership Interests

For business owners across all sectors of the U.S. economy, especially in oil and gas, real estate, and equipment leasing, the limited partnership is a common organizational and legal entity. The limited partnership consists of a general partner, who manages daily business activity and assumes much of the financial burden of the business, and limited partners, who invest capital in the business but have limited liability.

While family-owned businesses are frequently organized as limited partnerships, wealth management and estate planning professionals have advocated use of the entities as tax shelters for family wealth. In these family limited partnerships (FLPs), which may hold a variety of assets, including common stock, real estate, and cash or cash equivalents, parents typically retain only a small general partnership interest and periodically give limited partnership interests to their children through lifetime gifts, using the annual exclusion available under the Federal gift tax or bequests.

Approximately 1,513 estate tax returns filed for decedents who died in 2004 included interests in family limited partnerships, whether operating family businesses or mere estate-planning devices. These returns represented 3.6 percent of all returns filed for 2004 decedents, a significant increase from the 1.7 percent reported on estate tax returns filed for 2001 decedents.

As shown in Figure H, larger estates of 2004 decedents were more likely to include FLPs than their smaller counterparts. Only 2.0 percent of estates with total assets of at least $1.5 million but less than $2.0 million reported FLPs. A higher percentage of larger estates held FLPs, with 12.4 percent of estates with $20.0 million or more in total assets reporting these partnerships. Estates with FLPs were almost equally divided in terms of taxability, with 53.4 percent reporting a tax liability and 46.6 reporting no liability.

Figure I presents FLP data for 2004 decedents by marital status. Estates of married and widowed decedents reported the highest percentage of holding family limited partnerships, with 3.8 percent of married decedents holding FLP assets compared to a nearly identical 3.9 percent of widowed decedents. This is unsurprising given that married and widowed decedents are more likely than other decedents to have children as heirs. The estates of widowed decedents that reported FLPs had the highest average FLP value, more than $2.4 million per estate. Only 0.8 percent of the estates of single decedents reported FLP assets, and the average value of FLPs held by these decedents was $632,000, less than for any other marital status group.

As shown in Figure J, holdings of family limited partnerships also varied by age of the decedent. About 3.0 percent of the estates of decedents under age 70 reported family limited partnerships. A higher percentage of decedents ages 70 and older held FLPs, with about 3.7 percent of these decedents' estates reporting FLP assets.

Estates of decedents age 90 and older who held family limited partnership interests reported the largest average FLP holdings, almost $2.6 million per estate. In contrast, the estates of decedents under age 60 who held FLP assets reported average FLP holdings of less than $1.0 million. This is expected, given that these youngest decedents were probably still accumulating wealth at the time of their deaths.

Estate tax returns filed for 2004 decedents reported nearly $3.0 billion in assets held in FLPs. As shown in Figure K, the asset composition of FLPs was very similar to the composition of estates' overall asset portfolio, with stock and real estate accounting for most of the value. Stock, including shares of publicly traded and closely held corporations, represented 38.2 percent of the value of all FLPs, while real estate, including personal residences, undeveloped land, real estate mutual funds and partnerships, and other investment real estate, made up 22.1 percent of the total. Bonds, including bond-based mutual funds, accounted for 11.7 percent of the value of FLPs, while limited partnership interests made up a similar 11.6 percent of the total.

Figure K also shows that the asset composition of FLPs varied by size of estate in a pattern similar to the composition of estates' overall asset portfolio. Most significantly, stocks and bonds made up a larger share of FLPs as estate size increased, while real estate accounted for a smaller share.

Valuation Discounts

Valuation discounts are frequently claimed on assets held as part of closely held corporations, limited liability companies, general partnerships, and limited partnerships. An estimated 5,909 estate tax returns filed for 2004 decedents included a valuation discount, 14.0 percent of all returns. As shown in Figure L, the total amount of valuation discounts reported by these estates was approximately $6.5 billion. Most of the value of these discounts, 54.3 percent, was taken on stock, including closely held and publicly traded shares. Discounts on real estate accounted for the second largest portion of the total, 19.7 percent, followed by limited partnerships, farms, and other noncorporate business assets.

Another way to measure the effect of valuation discounts is by looking at the reduction in value of specific asset types for all returns. Overall, discounts reduced the total gross estate by 3.4 percent, but, as shown in Figure M, this percent varied significantly by asset type. The largest reduction in value due to discounts, 15.2 percent, was reported for limited partnerships, including family limited partnership assets that could not be assigned a specific asset code. The second largest reduction in value, 6.5 percent, was reported for other noncorporate business assets, followed by farms and stock, 5.7 percent and 5.2 percent, respectively.

Valuation discounts taken on assets held in family limited partnerships (FLPs) have long been a topic of interest because of the increasing use of FLPs as estate-planning devices. Claiming discounts on assets held in FLPs can minimize both the value of these assets and the reported Federal estate or gift tax liability. For 2004 decedents, $3.5 billion in discounts were reported for assets held in FLPs, which represented 54.2 percent of the value of all discounts. The average discount rate reported for assets held in FLPs was 32.0 percent.

As shown in Figure N, approximately 60 percent of all family limited partnerships held by 2004 decedents reported valuation discounts. This percentage, however, varied considerably by the marital status of the decedent. About 76.1 percent of the estates of widowed decedents who held FLP assets reported valuation discounts on these assets, more frequently than for any other marital status group. In contrast, only about 48.0 percent of the estates of single decedents who held FLP assets reported discounts on these assets. Approximately 55.7 percent of the estates of married decedents who held FLP assets reported discounts on these assets.

Figure O shows that estates of older decedents who held family limited partnership interests were more likely to report a valuation discount on these assets than the estates of their younger counterparts. Less than half of estates of decedents under age 60 reported these discounts, but this percentage increased steadily beyond age 60. More than 74 percent of estates of decedents age 90 and older reported these discounts. As expected, Figures N and O suggest that older, widowed decedents were further along in the estate planning and asset divestiture processes than their younger counterparts, who were more likely to be married or single.

Charitable Bequests

Deductions allowed in the calculation of taxable estate, defined as gross estate less deductions, include funeral expenses, executors' commissions, attorneys' fees, other administrative expenses and losses, debts and mortgages, medical debts, bequests to surviving spouses, and charitable contributions. According to IRC section 2055, "the value of the taxable estate shall be determined by deducting from the value of the gross estate the amount of all bequests, legacies, devises, or transfers" to qualifying charitable institutions, including organizations that conduct religious, charitable, scientific, literary, and educational activities, among others.

For Year of Death 2004, about 20.6 percent of all estate tax decedents left bequests to qualifying charitable organizations (Figure P). Gross charitable bequests exceeded $17.8 billion, which was equivalent to 9.6 percent of all decedents' total gross estate. Larger estates were more likely to report a charitable bequest than their smaller counterparts. More than 16 percent of estates with gross estates of less than $2.0 million reported a charitable bequest. This percentage increased steadily with size of gross estate, and 44.2 percent of estates with $20.0 million or more reported a charitable bequest.

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Not surprisingly, larger estates also gave away a larger portion of their gross estates than their smaller counterparts, on average. Bequests from estates with less than $2.0 million in gross estate averaged only 3.8 percent of total gross estate, but this percentage increased steadily with estate size. Estates with $20 million or more in gross estate left an average of 20.1 percent of gross estate to qualifying charities. These very large estates made up less than 2.0 percent of the 2004 estate tax population but reported more than $10 billion in gross bequests, which accounted for 56.2 percent of aggregate bequests.

Charitable organizations can be divided into categories that describe their general activities as set forth in the National Taxonomy of Exempt Entities (NTEE) Classification System developed by the National Center for Charitable Statistics. As shown in Figure Q, decedent donors in the 2004 estate tax population left $10.3 billion in cash and other assets to organizations that promote philanthropy and giving, which represented 57.7 percent of total bequests. Educational organizations and organizations that support educational entities received $2.6 billion in bequests from decedents who died in 2004. These bequests represented about 14.6 percent of the total. Religious and spiritual development charities received $1.1 billion in bequests, or 6.1 percent of the total. This category does not include educational institutions, hospitals, etc., operated by religious groups, as institutions are allocated to charitable contribution categories by activity rather than ownership.

Figure Q also shows that the charitable giving of decedents varies significantly by size of estate. Small estates left a much smaller share of their charitable bequests to philanthropic organizations, 13.6 percent, than the average estate. In contrast, they left significantly larger shares to educational and religious organizations, 28.7 percent and 18.5 percent, respectively. Medium estates reported a bequest distribution similar to their smaller counterparts, although they left a smaller share to religious organizations and larger shares to organizations promoting human services and arts, culture, and humanities, and those that promote animal welfare. Large estates left most of their bequests, 70.2 percent, to philanthropic organizations. This is primarily attributable to large bequests to private foundations from estates of the wealthiest decedents.

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Summary

In 2004, an estimated 42,239 individuals died with gross estates above the estate tax exemption amount of $1.5 million. Male decedents, who made up 56.2 percent of the total, reported an average total gross estate of $4.6 million, while female decedents reported a slightly smaller average, $4.1 million. The majority of male decedents, 62.8 percent, were married, while a similar 61.4 percent of female decedents were widowed.

Estate tax returns filed for 2004 decedents reported nearly $186 billion in total gross estate. The largest share of this gross estate was held in publicly traded stock, which accounted for 27.7 percent of the total. However, portfolio distribution varied significantly for decedents in different gross estate size classes. Decedents from small estates (less than $3.5 million in gross estate) held larger shares of their portfolios in real estate, cash, and retirement assets, while decedents from medium estates ($3.5 million but less than $5 million in gross estate) and large estates ($5 million or more in gross estate) held larger shares in stock and limited partnerships.

Bequests to charity from 2004 decedents totaled nearly $18 billion, of which the majority, 57.7 percent, was given to organizations promoting philanthropy and volunteerism. Charitable bequest distribution patterns, however, varied by gross estate size class. While decedents from small estates gave nearly half, 47.2 percent, of their total charitable bequests to educational or religious organizations, decedents from large estates gave 70.2 percent of their charitable bequests to philanthropic organizations. Altogether, these large estates accounted for $13.8 billion in charitable bequests, more than 77 percent of the total.

Data Sources and Limitations

Analysts in the Special Projects Section of SOI's Special Studies Branch, with SOI staff in the Cincinnati Submission Processing Center, conduct the Estate Tax Study, which extracts demographic, financial, and bequest data from Form 706, the Federal estate tax return. The Estate Tax Study is conducted on an annual basis, which allows annual production of filing year data on estate taxation. By focusing on a single year of death for a period of 3 years, the study also allows production of periodic year-of-death estimates.

Year-of-death estimates are advantageous in that the included estates would have been subject to the same tax law and similar economic conditions. A single year of death is sampled for 3 calendar years, and 99 percent of all returns for decedents who die in a given year are filed by the end of the second calendar year following the year of death. The Estate Tax Study for the period 2004-2006 concentrates on Year of Death 2004, the most recent year-of-death estimates available. Study Years 2007-2009 will concentrate on Year of Death 2007.

For each study year, 2004-2006, a sample was selected from returns filed. Samples were limited to returns filed for decedents who died after 1981. The sample for Filing Year 2004 included 11,674 returns out of a total population of 65,039. In 2005, the year in which most returns for 2004 decedents were filed, 12,910 returns were sampled out of a total of 45,070. There were 13,372 returns out of 49,050 sampled during Filing Year 2006. Of the 37,956 returns sampled during 2004-2006, there were 11,817 returns filed for 2004 decedents.

Estate tax returns were sampled while the returns were being processed for administrative purposes, but before any audit examination. Returns were selected on a flow basis, using a stratified random probability sampling method, whereby the sample rates were preset based on the desired sample size and an estimate of the population. The design had three stratification variables: year of death, age at death, and size of total gross estate plus adjusted taxable gifts.

For Filing Years 2004-2006, the year-of-death variable was separated into two categories: 2004 year of death and non-2004 year of death. Age was disaggregated into four categories: under 40, 40 under 50, 50 under 65, and 65 and older (including age unknown). Total gross estate plus adjusted taxable gifts was limited to six categories: under $1.5 million, $1.5 million under $2.0 million, $2.0 million under $3.0 million, $3.0 million under $5.0 million, $5.0 million under $10.0 million, and $10.0 million or more. Sampling rates ranged from 1 percent to 100 percent. Returns for more than half of the strata were selected at the 100-percent rate.

Because almost 99 percent of all returns for decedents who die in a given year are filed by the end of the second calendar year following the year of death and because the decedent's age at death and the length of time between the decedent's date of death and the filing of an estate tax return are related, it was possible to predict the percentage of unfiled returns within age strata. The sample weights were adjusted accordingly, in order to account for returns for 2004 decedents not filed by the end of Filing Year 2006.

Explanation of Selected terms

Brief definitions of some of the terms used in the tables are provided below:

Adjusted taxable estate--This is the sum of taxable estate and adjusted taxable gifts.

Adjusted taxable gifts--Certain gifts made during the life of an individual who died before 1982 were automatically included in the gross estate. However, for the estate of an individual who died after 1981, these gifts were not generally included in the gross estate. Instead, they were added to the taxable estate, creating the "adjusted taxable estate" for the purposes of determining the "estate tax before credits."

Bequests to surviving spouse--These are the values of property interests passing from the decedent to the surviving spouse, and are taken as a deduction from the total gross estate.

Charitable deduction--This is the deduction allowable for decedent's contributions to qualifying charitable organizations.

Estate tax before credits--This is the tax obtained by applying the graduated estate tax rates to the adjusted taxable estate reduced by the amount of Federal gift taxes previously paid.

Exclusion or exemption amount--The value of property transfers that individuals may give during life or at death.

Federal gift taxes previously paid--A credit was allowed against the estate tax for the Federal gift tax paid on a gift made by a decedent before 1977. No credit, apart from the unified credit, is allowed for any gift tax paid on gifts made after 1976.

Filing threshold--Same as exclusion or exemption amount.

Net estate tax--This is the tax liability of the estate after subtraction of credits for State death taxes, foreign death taxes, credit for tax on prior transfers, and Federal gift taxes previously paid. In addition, a unified credit, graduated according to the year of death and a "credit" for gift taxes paid on post-1976 gifts, is allowed (see also "unified credit").

Net worth--Net worth is equal to total gross estate less mortgages and other debts calculated at a decedent's date of death.

Nontaxable return--A nontaxable return is one with no estate tax liability after credits.

Other tax credits--These are the sum of all tax credits for foreign death taxes, Federal gift taxes, and taxes on prior transfers taken as a deduction against the estate tax before credits.

Tax on prior transfers--A tax credit is allowed for Federal estate tax paid on property received by the decedent or the estate from a transferor who died within 10 years before, or 2 years after, the decedent. The credit is intended to lessen the burden of double taxation between successive estates whose owners died within a short time. Depending on the time that has elapsed between the deaths, a credit is allowed for all or part of the Federal estate tax paid by the transferor's estate with respect to the transfer.

Taxable estate--Taxable estate is the base to which the graduated Federal estate tax rates are applied in computing the estate tax before credits. Taxable estate is equal to the value of the total gross estate less deductions for the following: funeral and administrative expenses; casualty and theft losses; debts, mortgages, losses, and other claims against the estate, including pledges to charitable organizations; bequests to the surviving spouse; and the employee stock ownership plan (ESOP) deduction (included in the statistics for "other expenses and losses").

Taxable return--A taxable return is one with estate tax liability after credits.

Total gross estate--An estate tax return is required in the case of every decedent whose gross estate, at the date of death, exceeded the legal filing requirement in effect for the year of death. For estate tax purposes, the gross estate includes all property or interest in property before reduction by debts (except policy loans against insurance) and mortgages, or administrative expenses. Included in the gross estate are such items as real estate, tangible and intangible personal property, certain lifetime gifts made by the decedent, property in which the decedent had a general power of appointment, the decedent's interest in annuities receivable by the surviving beneficiary, the decedent's share in community property, life insurance proceeds (even though payable to beneficiaries other than the estate), dower or curtesy of the surviving spouse (in herited property), and, with certain exceptions, joint estates with right of survivorship and tenancies by the entirety. In this article, total gross estate refers to the value of assets at the date of the decedent's death.

Unified credit--The unified credit is applied as a dollar-for-dollar reduction in estate and/or gift taxes. The unified credit represents the amount of tax on that part of gross estate that is below the filing requirement. The credit must be used to offset gift taxes on lifetime transfers made after 1976. However, to the extent it is so used, the amount of credit available at death is reduced.

(1) See "Which Estates are Affected by the Federal Estate Tax?: An Examination of the Filing Population for Year-of-Death 2001" Statistics of Income Bulletin, Summer 2005, Volume 25, Number 1.

(2) U.S. population data obtained from www.census.gov, and data on U.S. deaths obtained from the National Center for Health Statistics at www.cdc.gov/nchs/fastats/deaths.htm.

(3) See, for example, Menchik, Paul (1991), "Economic Status as a Determinant of Mortality Among Nonwhite and White Older Males; or, Does Poverty Kill?" Institute for Research on Poverty, Discussion Paper Number 93891.

(4) Occupation and industry were classified using industrial and occupation classification systems developed by the U.S. Census Bureau for the 2000 Census of Population and Housing. Occupation was coded as "unknown or none" for 23.2 percent of all decedents. A significant portion of these cases were reported on the estate tax return or death certificate as either "retired," or "homemaker." Industry was coded as "unknown or none" for 24.1 percent of all decedents.

(5) Valuation discounts are generally reported on assets associated with a privately held business. Minority ownership discounts are based on the principle that holding a fractional, noncontrolling share in a business reduces the real economic value of that ownership share. Lack of marketability discounts is based on the related principle that an illiquid market exists for fractional, noncontrolling shares in a business, thus making those shares more difficult to sell and reducing their values.

(6) See, for example, Showers, Vince and Joyce Shotick (1994), "The Effects of Household Characteristics on Demand for Insurance," The Journal of Risk and Insurance, Volume 61, Number 3.

Brian G. Raub is an economist with the Special Studies Special Projects Section. This article was prepared under the direction of Barry W. Johnson, Chief.
Table 1a. Estate Tax Returns Filed in 2004 [1], by Tax Status and Size
of Gross Estate

[All figures are estimates based on a sample--money amounts are in
thousands of dollars]

 Gross estate for tax
 purposes [2]
Tax status and size
of gross estate Number Amount
 (1) (2)

All returns 65,039 194,450,290
 Under $1.0 million 2,321 1,815,190
 $1.0 million < $1.5 million 25,141 30,635,926
 $1.5 million < $2.0 million 13,586 23,367,243
 $2.0 million < $3.5 million 13,936 35,748,727
 $3.5 million < $5.0 million 4,198 17,378,183
 $5.0 million < $10.0 million 3,806 25,957,237
 $10.0 million < $20.0 million 1,315 17,906,950
 $20.0 million or more 736 41,640,833
All taxable returns 31,329 108,490,864
 Under $1.0 million 1,053 810,545
 $1.0 million < $1.5 million 10,269 12,953,470
 $1.5 million < $2.0 million 7,057 12,194,643
 $2.0 million < $3.5 million 7,290 18,660,173
 $3.5 million < $5.0 million 2,165 8,926,896
 $5.0 million < $10.0 million 2,166 14,910,242
 $10.0 million < $20.0 million 808 11,002,779
 $20.0 million or more 520 29,032,119
All nontaxable returns 33,710 85,959,425
 Under $1.0 million 1,267 1,004,646
 $1.0 million < $1.5 million 14,872 17,682,456
 $1.5 million < $2.0 million 6,529 11,172,600
 $2.0 million < $3.5 million 6,646 17,088,555
 $3.5 million < $5.0 million 2,034 8,451,287
 $5.0 million < $10.0 million 1,640 11,046,996
 $10.0 million < $20.0 million 507 6,904,171
 $20.0 million or more 216 12,608,714

 Type of property

 Personal residence
Tax status and size
of gross estate Number Amount
 (3) (4)

All returns 42,037 17,422,486
 Under $1.0 million 977 254,854
 $1.0 million < $1.5 million 15,816 4,767,383
 $1.5 million < $2.0 million 8,890 2,905,422
 $2.0 million < $3.5 million 9,390 3,909,215
 $3.5 million < $5.0 million 2,855 1,543,225
 $5.0 million < $10.0 million 2,601 1,929,373
 $10.0 million < $20.0 million 946 1,066,887
 $20.0 million or more 561 1,046,127
All taxable returns 18,569 8,634,074
 Under $1.0 million 321 83,255
 $1.0 million < $1.5 million 5,666 1,823,314
 $1.5 million < $2.0 million 4,247 1,539,251
 $2.0 million < $3.5 million 4,630 2,001,861
 $3.5 million < $5.0 million 1,350 735,112
 $5.0 million < $10.0 million 1,402 1,096,488
 $10.0 million < $20.0 million 564 614,085
 $20.0 million or more 390 740,709
All nontaxable returns 23,467 8,788,412
 Under $1.0 million 656 171,599
 $1.0 million < $1.5 million 10,150 2,944,070
 $1.5 million < $2.0 million 4,643 1,366,172
 $2.0 million < $3.5 million 4,761 1,907,354
 $3.5 million < $5.0 million 1,505 808,113
 $5.0 million < $10.0 million 1,199 832,886
 $10.0 million < $20.0 million 382 452,802
 $20.0 million or more 171 305,418

 Type of property

 Other real estate [3]
Tax status and size
of gross estate Number Amount
 (5) (6)

All returns 38,761 24,386,228
 Under $1.0 million 1,131 272,127
 $1.0 million < $1.5 million 13,976 4,655,442
 $1.5 million < $2.0 million 7,827 3,548,051
 $2.0 million < $3.5 million 8,770 5,332,268
 $3.5 million < $5.0 million 2,839 2,446,048
 $5.0 million < $10.0 million 2,652 3,214,372
 $10.0 million < $20.0 million 988 2,014,336
 $20.0 million or more 578 2,903,583
All taxable returns 17,353 11,557,680
 Under $1.0 million 374 74,637
 $1.0 million < $1.5 million 5,227 1,641,406
 $1.5 million < $2.0 million 3,605 1,567,570
 $2.0 million < $3.5 million 4,358 2,519,699
 $3.5 million < $5.0 million 1,381 1,110,955
 $5.0 million < $10.0 million 1,430 1,526,179
 $10.0 million < $20.0 million 583 1,100,716
 $20.0 million or more 396 2,016,518
All nontaxable returns 21,408 12,828,548
 Under $1.0 million 757 197,490
 $1.0 million < $1.5 million 8,749 3,014,036
 $1.5 million < $2.0 million 4,222 1,980,482
 $2.0 million < $3.5 million 4,413 2,812,569
 $3.5 million < $5.0 million 1,458 1,335,093
 $5.0 million < $10.0 million 1,222 1,688,193
 $10.0 million < $20.0 million 404 913,620
 $20.0 million or more 182 887,065

 Type of property

 Real estate
 partnerships

Tax status and size
of gross estate Number Amount
 (7) (8)

All returns 3,039 3,038,729
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 448 ** 71,409
 $1.5 million < $2.0 million 490 197,810
 $2.0 million < $3.5 million 868 347,265
 $3.5 million < $5.0 million 381 216,315
 $5.0 million < $10.0 million 451 425,344
 $10.0 million < $20.0 million 226 405,231
 $20.0 million or more 175 1,375,356
All taxable returns 1,275 1,478,242
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 189 ** 23,856
 $1.5 million < $2.0 million 169 53,950
 $2.0 million < $3.5 million 342 133,056
 $3.5 million < $5.0 million 160 60,415
 $5.0 million < $10.0 million 192 151,441
 $10.0 million < $20.0 million 114 155,616
 $20.0 million or more 109 899,908
All nontaxable returns 1,765 1,560,487
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 259 ** 47,554
 $1.5 million < $2.0 million 321 143,859
 $2.0 million < $3.5 million 526 214,209
 $3.5 million < $5.0 million 222 155,900
 $5.0 million < $10.0 million 258 273,903
 $10.0 million < $20.0 million 113 249,614
 $20.0 million or more 66 475,448

 Type of property

 Closely held stock
Tax status and size
of gross estate Number Amount
 (9) (10)

All returns 8,936 11,745,389
 Under $1.0 million 264 48,443
 $1.0 million < $1.5 million 1,951 499,749
 $1.5 million < $2.0 million 1,637 545,073
 $2.0 million < $3.5 million 2,276 1,087,255
 $3.5 million < $5.0 million 902 707,700
 $5.0 million < $10.0 million 1,040 1,534,229
 $10.0 million < $20.0 million 489 1,463,240
 $20.0 million or more 377 5,859,700
All taxable returns 3,487 5,818,659
 Under $1.0 million * 135 * 16,644
 $1.0 million < $1.5 million 600 125,152
 $1.5 million < $2.0 million 566 153,164
 $2.0 million < $3.5 million 894 401,573
 $3.5 million < $5.0 million 310 204,175
 $5.0 million < $10.0 million 481 594,448
 $10.0 million < $20.0 million 251 663,063
 $20.0 million or more 249 3,660,440
All nontaxable returns 5,449 5,926,730
 Under $1.0 million 130 31,799
 $1.0 million < $1.5 million 1,351 374,597
 $1.5 million < $2.0 million 1,071 391,909
 $2.0 million < $3.5 million 1,381 685,683
 $3.5 million < $5.0 million 592 503,525
 $5.0 million < $10.0 million 559 939,781
 $10.0 million < $20.0 million 237 800,177
 $20.0 million or more 128 2,199,260

 Type of property

 Publicly
 traded stock
Tax status and size
of gross estate Number Amount
 (11) (12)

All returns 51,713 47,554,809
 Under $1.0 million 1,515 354,009
 $1.0 million < $1.5 million 18,942 5,310,540
 $1.5 million < $2.0 million 10,680 4,511,842
 $2.0 million < $3.5 million 11,659 7,728,962
 $3.5 million < $5.0 million 3,670 4,383,884
 $5.0 million < $10.0 million 3,368 7,183,389
 $10.0 million < $20.0 million 1,193 5,174,032
 $20.0 million or more 686 12,908,152
All taxable returns 25,885 30,630,971
 Under $1.0 million 791 199,977
 $1.0 million < $1.5 million 8,175 2,708,468
 $1.5 million < $2.0 million 5,588 2,677,755
 $2.0 million < $3.5 million 6,178 4,666,376
 $3.5 million < $5.0 million 1,934 2,553,105
 $5.0 million < $10.0 million 1,978 4,794,525
 $10.0 million < $20.0 million 747 3,712,187
 $20.0 million or more 494 9,318,577
All nontaxable returns 25,828 16,923,838
 Under $1.0 million 724 154,031
 $1.0 million < $1.5 million 10,767 2,602,071
 $1.5 million < $2.0 million 5,092 1,834,087
 $2.0 million < $3.5 million 5,481 3,062,586
 $3.5 million < $5.0 million 1,736 1,830,779
 $5.0 million < $10.0 million 1,390 2,388,864
 $10.0 million < $20.0 million 446 1,461,845
 $20.0 million or more 192 3,589,575

 Type of property

 State and
 local bonds
Tax status and size
of gross estate Number Amount
 (13) (14)

All returns 33,417 21,084,097
 Under $1.0 million 932 135,795
 $1.0 million < $1.5 million 10,920 2,279,277
 $1.5 million < $2.0 million 6,904 2,280,886
 $2.0 million < $3.5 million 7,896 3,897,313
 $3.5 million < $5.0 million 2,674 2,100,049
 $5.0 million < $10.0 million 2,619 3,547,265
 $10.0 million < $20.0 million 938 2,384,666
 $20.0 million or more 534 4,458,845
All taxable returns 18,094 13,780,439
 Under $1.0 million 499 58,831
 $1.0 million < $1.5 million 4,986 1,135,991
 $1.5 million < $2.0 million 3,894 1,393,598
 $2.0 million < $3.5 million 4,524 2,413,744
 $3.5 million < $5.0 million 1,533 1,293,246
 $5.0 million < $10.0 million 1,628 2,327,116
 $10.0 million < $20.0 million 618 1,604,580
 $20.0 million or more 411 3,553,333
All nontaxable returns 15,323 7,303,658
 Under $1.0 million 433 76,964
 $1.0 million < $1.5 million 5,933 1,143,286
 $1.5 million < $2.0 million 3,010 887,288
 $2.0 million < $3.5 million 3,372 1,483,569
 $3.5 million < $5.0 million 1,142 806,803
 $5.0 million < $10.0 million 991 1,220,149
 $10.0 million < $20.0 million 320 780,086
 $20.0 million or more 123 905,512

 Type of property

 Federal
 savings bonds
Tax status and size
of gross estate Number Amount
 (15) (16)

All returns 8,734 741,938
 Under $1.0 million 320 14,312
 $1.0 million < $1.5 million 3,788 276,488
 $1.5 million < $2.0 million 1,967 182,992
 $2.0 million < $3.5 million 1,747 190,424
 $3.5 million < $5.0 million 419 40,208
 $5.0 million < $10.0 million 332 24,813
 $10.0 million < $20.0 million 117 8,094
 $20.0 million or more 44 4,607
All taxable returns 4,458 457,728
 Under $1.0 million * 102 * 5,006
 $1.0 million < $1.5 million 1,522 127,581
 $1.5 million < $2.0 million 1,206 153,385
 $2.0 million < $3.5 million 1,067 125,436
 $3.5 million < $5.0 million 243 24,268
 $5.0 million < $10.0 million 204 14,561
 $10.0 million < $20.0 million 78 5,651
 $20.0 million or more 36 1,840
All nontaxable returns 4,276 284,210
 Under $1.0 million 217 9,306
 $1.0 million < $1.5 million 2,267 148,907
 $1.5 million < $2.0 million 761 29,606
 $2.0 million < $3.5 million 681 64,989
 $3.5 million < $5.0 million 175 15,940
 $5.0 million < $10.0 million 128 10,252
 $10.0 million < $20.0 million 38 2,442
 $20.0 million or more 8 2,767

 Type of property

 Other Federal bonds
Tax status and size
of gross estate Number Amount
 (17) (18)

All returns 15,988 4,996,190
 Under $1.0 million 323 28,962
 $1.0 million < $1.5 million 5,479 631,169
 $1.5 million < $2.0 million 3,543 544,654
 $2.0 million < $3.5 million 3,712 778,694
 $3.5 million < $5.0 million 1,206 373,788
 $5.0 million < $10.0 million 1,066 545,067
 $10.0 million < $20.0 million 406 432,686
 $20.0 million or more 253 1,661,171
All taxable returns 9,175 3,289,090
 Under $1.0 million 134 8,559
 $1.0 million < $1.5 million 2,823 352,030
 $1.5 million < $2.0 million 2,250 367,620
 $2.0 million < $3.5 million 2,148 486,758
 $3.5 million < $5.0 million 705 220,715
 $5.0 million < $10.0 million 668 407,531
 $10.0 million < $20.0 million 262 289,111
 $20.0 million or more 184 1,156,765
All nontaxable returns 6,813 1,707,100
 Under $1.0 million 189 20,403
 $1.0 million < $1.5 million 2,656 279,139
 $1.5 million < $2.0 million 1,293 177,033
 $2.0 million < $3.5 million 1,564 291,935
 $3.5 million < $5.0 million 501 153,073
 $5.0 million < $10.0 million 398 137,536
 $10.0 million < $20.0 million 144 143,575
 $20.0 million or more 69 504,406

 Type of property

 Corporate
 and foreign
Tax status and size
of gross estate Number Amount
 (19) (20)

All returns 18,456 2,804,557
 Under $1.0 million 337 27,851
 $1.0 million < $1.5 million 6,589 542,407
 $1.5 million < $2.0 million 3,935 419,501
 $2.0 million < $3.5 million 4,260 494,761
 $3.5 million < $5.0 million 1,360 236,247
 $5.0 million < $10.0 million 1,292 322,538
 $10.0 million < $20.0 million 428 188,605
 $20.0 million or more 253 572,647
All taxable returns 9,866 1,733,322
 Under $1.0 million 216 18,223
 $1.0 million < $1.5 million 3,014 269,463
 $1.5 million < $2.0 million 2,197 265,236
 $2.0 million < $3.5 million 2,386 284,566
 $3.5 million < $5.0 million 782 160,542
 $5.0 million < $10.0 million 805 236,174
 $10.0 million < $20.0 million 278 133,380
 $20.0 million or more 188 365,739
All nontaxable returns 8,590 1,071,235
 Under $1.0 million 121 9,628
 $1.0 million < $1.5 million 3,576 272,945
 $1.5 million < $2.0 million 1,738 154,265
 $2.0 million < $3.5 million 1,875 210,195
 $3.5 million < $5.0 million 578 75,705
 $5.0 million < $10.0 million 487 86,364
 $10.0 million < $20.0 million 150 55,225
 $20.0 million or more 65 206,908

 Type of property

 Bond funds
Tax status and size
of gross estate Number Amount
 (21) (22)

All returns 4,872 478,335
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 1,963 ** 145,064
 $1.5 million < $2.0 million 1,064 80,521
 $2.0 million < $3.5 million 1,034 77,304
 $3.5 million < $5.0 million 395 58,022
 $5.0 million < $10.0 million 289 45,148
 $10.0 million < $20.0 million 87 29,493
 $20.0 million or more 39 42,784
All taxable returns 2,803 301,461
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 1,047 ** 73,192
 $1.5 million < $2.0 million 623 50,892
 $2.0 million < $3.5 million 607 54,776
 $3.5 million < $5.0 million 252 38,203
 $5.0 million < $10.0 million 181 28,797
 $10.0 million < $20.0 million 66 22,807
 $20.0 million or more 26 32,795
All nontaxable returns 2,069 176,874
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 916 ** 71,871
 $1.5 million < $2.0 million 441 29,630
 $2.0 million < $3.5 million 426 22,528
 $3.5 million < $5.0 million 143 19,819
 $5.0 million < $10.0 million 108 16,351
 $10.0 million < $20.0 million 21 6,686
 $20.0 million or more 13 9,989

 Type of property

 Unclassifiable
 mutual funds
Tax status and size
of gross estate Number Amount
 (23) (24)

All returns 11,005 1,100,854
 Under $1.0 million 305 12,278
 $1.0 million < $1.5 million 4,055 359,592
 $1.5 million < $2.0 million 2,345 162,097
 $2.0 million < $3.5 million 2,581 256,453
 $3.5 million < $5.0 million 751 84,163
 $5.0 million < $10.0 million 654 88,852
 $10.0 million < $20.0 million 206 81,024
 $20.0 million or more 108 56,395
All taxable returns 5,453 595,954
 Under $1.0 million 172 5,698
 $1.0 million < $1.5 million 1,848 177,789
 $1.5 million < $2.0 million 1,144 83,473
 $2.0 million < $3.5 million 1,341 139,173
 $3.5 million < $5.0 million 380 44,145
 $5.0 million < $10.0 million 377 63,609
 $10.0 million < $20.0 million 113 40,131
 $20.0 million or more 77 41,937
All nontaxable returns 5,552 504,900
 Under $1.0 million * 133 * 6,580
 $1.0 million < $1.5 million 2,207 181,803
 $1.5 million < $2.0 million 1,201 78,623
 $2.0 million < $3.5 million 1,240 117,280
 $3.5 million < $5.0 million 371 40,019
 $5.0 million < $10.0 million 277 25,243
 $10.0 million < $20.0 million 94 40,893
 $20.0 million or more 30 14,458

 Type of property

 Cash
Tax status and size
of gross estate Number Amount
 (25) (26)

All returns 62,708 13,951,152
 Under $1.0 million 2,163 228,809
 $1.0 million < $1.5 million 24,177 3,839,272
 $1.5 million < $2.0 million 13,089 2,192,849
 $2.0 million < $3.5 million 13,473 2,838,467
 $3.5 million < $5.0 million 4,087 1,154,562
 $5.0 million < $10.0 million 3,717 1,295,722
 $10.0 million < $20.0 million 1,282 821,230
 $20.0 million or more 720 1,580,242
All taxable returns 30,702 8,703,932
 Under $1.0 million 993 152,213
 $1.0 million < $1.5 million 10,124 2,002,066
 $1.5 million < $2.0 million 6,894 1,402,847
 $2.0 million < $3.5 million 7,108 1,746,786
 $3.5 million < $5.0 million 2,123 751,436
 $5.0 million < $10.0 million 2,147 822,449
 $10.0 million < $20.0 million 800 561,922
 $20.0 million or more 514 1,264,212
All nontaxable returns 32,006 5,247,220
 Under $1.0 million 1,170 76,596
 $1.0 million < $1.5 million 14,053 1,837,205
 $1.5 million < $2.0 million 6,195 790,001
 $2.0 million < $3.5 million 6,366 1,091,681
 $3.5 million < $5.0 million 1,964 403,125
 $5.0 million < $10.0 million 1,570 473,273
 $10.0 million < $20.0 million 482 259,307
 $20.0 million or more 206 316,030

 Type of property

 Cash management
 accounts
Tax status and size
of gross estate Number Amount
 (27) (28)

All returns 45,848 8,048,537
 Under $1.0 million 1,451 78,583
 $1.0 million < $1.5 million 16,349 1,298,870
 $1.5 million < $2.0 million 9,587 1,057,142
 $2.0 million < $3.5 million 10,318 1,456,959
 $3.5 million < $5.0 million 3,274 735,808
 $5.0 million < $10.0 million 3,096 1,132,570
 $10.0 million < $20.0 million 1,128 783,317
 $20.0 million or more 645 1,505,289
All taxable returns 23,332 4,968,659
 Under $1.0 million 688 47,795
 $1.0 million < $1.5 million 7,333 629,807
 $1.5 million < $2.0 million 5,090 601,464
 $2.0 million < $3.5 million 5,555 881,689
 $3.5 million < $5.0 million 1,704 421,273
 $5.0 million < $10.0 million 1,798 762,722
 $10.0 million < $20.0 million 701 535,076
 $20.0 million or more 464 1,088,833
All nontaxable returns 22,516 3,079,878
 Under $1.0 million 763 30,788
 $1.0 million < $1.5 million 9,015 669,063
 $1.5 million < $2.0 million 4,497 455,678
 $2.0 million < $3.5 million 4,763 575,270
 $3.5 million < $5.0 million 1,570 314,535
 $5.0 million < $10.0 million 1,299 369,848
 $10.0 million < $20.0 million 427 248,241
 $20.0 million or more 181 416,456

 Type of property

 Insurance,
 face value
Tax status and size
of gross estate Number Amount
 (29) (30)

All returns 33,511 5,061,924
 Under $1.0 million 1,072 49,858
 $1.0 million < $1.5 million 12,772 1,092,268
 $1.5 million < $2.0 million 7,148 920,717
 $2.0 million < $3.5 million 7,523 1,398,830
 $3.5 million < $5.0 million 2,123 499,741
 $5.0 million < $10.0 million 1,878 672,647
 $10.0 million < $20.0 million 643 245,158
 $20.0 million or more 353 182,705
All taxable returns 13,814 1,432,551
 Under $1.0 million 354 12,909
 $1.0 million < $1.5 million 4,559 211,514
 $1.5 million < $2.0 million 3,145 282,062
 $2.0 million < $3.5 million 3,404 386,153
 $3.5 million < $5.0 million 889 140,929
 $5.0 million < $10.0 million 875 207,634
 $10.0 million < $20.0 million 359 103,438
 $20.0 million or more 229 87,912
All nontaxable returns 19,697 3,629,372
 Under $1.0 million 719 36,949
 $1.0 million < $1.5 million 8,213 880,754
 $1.5 million < $2.0 million 4,002 638,655
 $2.0 million < $3.5 million 4,119 1,012,678
 $3.5 million < $5.0 million 1,234 358,812
 $5.0 million < $10.0 million 1,003 465,012
 $10.0 million < $20.0 million 284 141,720
 $20.0 million or more 124 94,793

 Type of property

 Insurance
 policy loans
Tax status and size
of gross estate Number Amount
 (31) (32)

All returns 3,830 121,394
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 1,417 ** 24,158
 $1.5 million < $2.0 million 737 22,139
 $2.0 million < $3.5 million 885 33,166
 $3.5 million < $5.0 million 328 11,481
 $5.0 million < $10.0 million 312 18,178
 $10.0 million < $20.0 million 98 4,193
 $20.0 million or more 54 8,079
All taxable returns 1,421 39,816
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 418 ** 4,275
 $1.5 million < $2.0 million 315 6,928
 $2.0 million < $3.5 million 349 12,931
 $3.5 million < $5.0 million 107 3,981
 $5.0 million < $10.0 million 153 8,255
 $10.0 million < $20.0 million 45 1,366
 $20.0 million or more 34 2,080
All nontaxable returns 2,409 81,578
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 998 ** 19,882
 $1.5 million < $2.0 million 422 15,211
 $2.0 million < $3.5 million 537 20,235
 $3.5 million < $5.0 million 221 7,500
 $5.0 million < $10.0 million 159 9,923
 $10.0 million < $20.0 million 52 2,827
 $20.0 million or more 20 5,999

 Type of property

 Farm assets [3]
Tax status and size
of gross estate Number Amount
 (33) (34)

All returns 4,258 1,029,893
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 1,829 ** 172,932
 $1.5 million < $2.0 million 822 148,379
 $2.0 million < $3.5 million 882 226,460
 $3.5 million < $5.0 million 271 92,375
 $5.0 million < $10.0 million 266 147,459
 $10.0 million < $20.0 million 119 106,930
 $20.0 million or more 68 135,358
All taxable returns 1,746 418,429
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 659 ** 37,970
 $1.5 million < $2.0 million 283 63,187
 $2.0 million < $3.5 million 390 58,499
 $3.5 million < $5.0 million 143 40,581
 $5.0 million < $10.0 million 142 67,517
 $10.0 million < $20.0 million 80 79,419
 $20.0 million or more 49 71,257
All nontaxable returns 2,511 611,464
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 1,171 ** 134,962
 $1.5 million < $2.0 million 539 85,192
 $2.0 million < $3.5 million 492 167,962
 $3.5 million < $5.0 million 128 51,794
 $5.0 million < $10.0 million 124 79,942
 $10.0 million < $20.0 million 38 27,511
 $20.0 million or more 19 64,102

 Type of property

 Limited
 partnership
Tax status and size
of gross estate Number Amount
 (35) (36)

All returns 8,445 4,475,211
 Under $1.0 million * 129 * 9,270
 $1.0 million < $1.5 million 2,327 195,583
 $1.5 million < $2.0 million 1,506 225,483
 $2.0 million < $3.5 million 1,876 301,607
 $3.5 million < $5.0 million 874 278,243
 $5.0 million < $10.0 million 986 600,942
 $10.0 million < $20.0 million 431 601,328
 $20.0 million or more 317 2,262,755
All taxable returns 4,080 2,504,679
 Under $1.0 million * 62 * 648
 $1.0 million < $1.5 million 1,035 83,957
 $1.5 million < $2.0 million 776 124,022
 $2.0 million < $3.5 million 805 139,705
 $3.5 million < $5.0 million 403 100,820
 $5.0 million < $10.0 million 542 334,351
 $10.0 million < $20.0 million 236 329,115
 $20.0 million or more 219 1,392,062
All nontaxable returns 4,365 1,970,532
 Under $1.0 million * 67 * 8,622
 $1.0 million < $1.5 million 1,292 111,626
 $1.5 million < $2.0 million 730 101,461
 $2.0 million < $3.5 million 1,071 161,902
 $3.5 million < $5.0 million 471 177,423
 $5.0 million < $10.0 million 443 266,591
 $10.0 million < $20.0 million 194 272,213
 $20.0 million or more 98 870,694

 Type of property

 Other noncorporate
 business assets
Tax status and size
of gross estate Number Amount
 (37) (38)

All returns 6,310 2,533,506
 Under $1.0 million 166 16,546
 $1.0 million < $1.5 million 1,525 146,339
 $1.5 million < $2.0 million 1,199 151,505
 $2.0 million < $3.5 million 1,443 307,796
 $3.5 million < $5.0 million 610 214,147
 $5.0 million < $10.0 million 737 339,190
 $10.0 million < $20.0 million 355 275,731
 $20.0 million or more 275 1,082,251
All taxable returns 2,505 1,028,105
 Under $1.0 million * 104 * 11,397
 $1.0 million < $1.5 million 542 42,884
 $1.5 million < $2.0 million 425 71,800
 $2.0 million < $3.5 million 504 81,044
 $3.5 million < $5.0 million 254 62,916
 $5.0 million < $10.0 million 305 129,214
 $10.0 million < $20.0 million 192 121,242
 $20.0 million or more 179 507,608
All nontaxable returns 3,804 1,505,401
 Under $1.0 million * 62 * 5,149
 $1.0 million < $1.5 million 982 103,456
 $1.5 million < $2.0 million 774 79,705
 $2.0 million < $3.5 million 939 226,752
 $3.5 million < $5.0 million 357 151,230
 $5.0 million < $10.0 million 432 209,976
 $10.0 million < $20.0 million 163 154,489
 $20.0 million or more 96 574,643

 Type of property

 Mortgages
 and notes
Tax status and size
of gross estate Number Amount
 (39) (40)

All returns 13,644 4,347,403
 Under $1.0 million 497 81,384
 $1.0 million < $1.5 million 3,799 490,192
 $1.5 million < $2.0 million 2,647 381,178
 $2.0 million < $3.5 million 3,245 640,711
 $3.5 million < $5.0 million 1,219 348,466
 $5.0 million < $10.0 million 1,270 631,594
 $10.0 million < $20.0 million 582 579,062
 $20.0 million or more 385 1,194,815
All taxable returns 6,734 2,409,254
 Under $1.0 million 268 36,487
 $1.0 million < $1.5 million 1,497 179,803
 $1.5 million < $2.0 million 1,330 187,065
 $2.0 million < $3.5 million 1,670 319,332
 $3.5 million < $5.0 million 649 190,687
 $5.0 million < $10.0 million 685 316,091
 $10.0 million < $20.0 million 360 305,426
 $20.0 million or more 276 874,363
All nontaxable returns 6,910 1,938,149
 Under $1.0 million 229 44,897
 $1.0 million < $1.5 million 2,301 310,390
 $1.5 million < $2.0 million 1,317 194,113
 $2.0 million < $3.5 million 1,575 321,379
 $3.5 million < $5.0 million 570 157,779
 $5.0 million < $10.0 million 585 315,503
 $10.0 million < $20.0 million 222 273,637
 $20.0 million or more 110 320,452

 Type of property

 Retirement assets
Tax status and size
of gross estate Number Amount
 (41) (42)

All returns 37,588 14,510,063
 Under $1.0 million 855 140,238
 $1.0 million < $1.5 million 14,389 3,345,864
 $1.5 million < $2.0 million 8,291 2,535,325
 $2.0 million < $3.5 million 8,412 3,824,736
 $3.5 million < $5.0 million 2,326 1,535,543
 $5.0 million < $10.0 million 2,196 1,743,333
 $10.0 million < $20.0 million 741 779,849
 $20.0 million or more 377 605,174
All taxable returns 15,475 5,754,399
 Under $1.0 million 327 51,644
 $1.0 million < $1.5 million 5,002 1,147,268
 $1.5 million < $2.0 million 3,701 997,964
 $2.0 million < $3.5 million 3,760 1,506,517
 $3.5 million < $5.0 million 1,024 626,661
 $5.0 million < $10.0 million 1,035 733,436
 $10.0 million < $20.0 million 389 340,577
 $20.0 million or more 237 350,333
All nontaxable returns 22,112 8,755,664
 Under $1.0 million 527 88,594
 $1.0 million < $1.5 million 9,387 2,198,596
 $1.5 million < $2.0 million 4,590 1,537,361
 $2.0 million < $3.5 million 4,652 2,318,220
 $3.5 million < $5.0 million 1,303 908,882
 $5.0 million < $10.0 million 1,161 1,009,897
 $10.0 million < $20.0 million 352 439,272
 $20.0 million or more 140 254,842

 Type of property

 Depletables/
 intangibles
Tax status and size
of gross estate Number Amount
 (43) (44)

All returns 3,678 703,495
 Under $1.0 million 113 4,027
 $1.0 million < $1.5 million 1,091 44,889
 $1.5 million < $2.0 million 645 47,549
 $2.0 million < $3.5 million 925 111,959
 $3.5 million < $5.0 million 291 56,861
 $5.0 million < $10.0 million 377 89,488
 $10.0 million < $20.0 million 137 76,617
 $20.0 million or more 99 272,106
All taxable returns 2,008 265,462
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 618 ** 18,625
 $1.5 million < $2.0 million 353 12,904
 $2.0 million < $3.5 million 517 62,582
 $3.5 million < $5.0 million 154 29,299
 $5.0 million < $10.0 million 203 31,765
 $10.0 million < $20.0 million 87 40,464
 $20.0 million or more 74 69,824
All nontaxable returns 1,671 438,034
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 585 ** 30,291
 $1.5 million < $2.0 million 292 34,646
 $2.0 million < $3.5 million 408 49,378
 $3.5 million < $5.0 million 137 27,562
 $5.0 million < $10.0 million 174 57,723
 $10.0 million < $20.0 million 49 36,153
 $20.0 million or more 24 202,282

 Type of property

 Art
Tax status and size
of gross estate Number Amount
 (45) (46)

All returns 3,556 1,430,934
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 619 ** 9,136
 $1.5 million < $2.0 million 486 23,484
 $2.0 million < $3.5 million 916 70,260
 $3.5 million < $5.0 million 380 35,388
 $5.0 million < $10.0 million 547 104,992
 $10.0 million < $20.0 million 323 145,285
 $20.0 million or more 285 1,042,388
All taxable returns 2,075 1,057,022
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 287 ** 4,112
 $1.5 million < $2.0 million 282 5,093
 $2.0 million < $3.5 million 529 38,859
 $3.5 million < $5.0 million 199 23,256
 $5.0 million < $10.0 million 341 74,257
 $10.0 million < $20.0 million 219 73,012
 $20.0 million or more 218 838,433
All nontaxable returns 1,481 373,912
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 331 ** 5,024
 $1.5 million < $2.0 million 205 18,391
 $2.0 million < $3.5 million 387 31,402
 $3.5 million < $5.0 million 181 12,132
 $5.0 million < $10.0 million 206 30,735
 $10.0 million < $20.0 million 104 72,273
 $20.0 million or more 66 203,955

 Type of property

 Other assets
Tax status and size
of gross estate Number Amount
 (47) (48)

All returns 55,768 3,024,901
 Under $1.0 million 1,698 33,871
 $1.0 million < $1.5 million 21,187 507,822
 $1.5 million < $2.0 million 11,536 318,406
 $2.0 million < $3.5 million 12,201 477,056
 $3.5 million < $5.0 million 3,740 239,866
 $5.0 million < $10.0 million 3,470 335,992
 $10.0 million < $20.0 million 1,231 225,055
 $20.0 million or more 706 886,833
All taxable returns 26,890 1,660,056
 Under $1.0 million 800 17,305
 $1.0 million < $1.5 million 8,554 148,601
 $1.5 million < $2.0 million 5,941 145,868
 $2.0 million < $3.5 million 6,412 218,537
 $3.5 million < $5.0 million 1,925 92,784
 $5.0 million < $10.0 million 1,992 186,770
 $10.0 million < $20.0 million 758 158,959
 $20.0 million or more 507 691,231
All nontaxable returns 28,879 1,364,845
 Under $1.0 million 898 16,566
 $1.0 million < $1.5 million 12,633 359,221
 $1.5 million < $2.0 million 5,594 172,538
 $2.0 million < $3.5 million 5,788 258,519
 $3.5 million < $5.0 million 1,815 147,082
 $5.0 million < $10.0 million 1,477 149,222
 $10.0 million < $20.0 million 473 66,096
 $20.0 million or more 199 195,602

 Type of deductions

 Funeral expenses
Tax status and size
of gross estate Number Amount
 (49) (50)

All returns 57,224 500,464
 Under $1.0 million 2,128 17,193
 $1.0 million < $1.5 million 21,956 165,042
 $1.5 million < $2.0 million 11,937 93,733
 $2.0 million < $3.5 million 12,132 110,449
 $3.5 million < $5.0 million 3,752 39,078
 $5.0 million < $10.0 million 3,433 40,866
 $10.0 million < $20.0 million 1,210 18,217
 $20.0 million or more 676 15,885
All taxable returns 29,906 250,750
 Under $1.0 million 1,010 7,096
 $1.0 million < $1.5 million 9,831 69,198
 $1.5 million < $2.0 million 6,715 50,145
 $2.0 million < $3.5 million 6,944 58,685
 $3.5 million < $5.0 million 2,056 20,233
 $5.0 million < $10.0 million 2,077 23,120
 $10.0 million < $20.0 million 778 10,924
 $20.0 million or more 494 11,351
All nontaxable returns 27,318 249,713
 Under $1.0 million 1,118 10,097
 $1.0 million < $1.5 million 12,125 95,844
 $1.5 million < $2.0 million 5,222 43,589
 $2.0 million < $3.5 million 5,187 51,765
 $3.5 million < $5.0 million 1,696 18,845
 $5.0 million < $10.0 million 1,355 17,746
 $10.0 million < $20.0 million 431 7,293
 $20.0 million or more 182 4,534

 Type of deductions

 Executors'
 commissions
Tax status and size
of gross estate Number Amount
 (51) (52)

All returns 22,873 1,350,490
 Under $1.0 million 757 13,173
 $1.0 million < $1.5 million 8,452 217,226
 $1.5 million < $2.0 million 4,501 165,200
 $2.0 million < $3.5 million 5,156 261,878
 $3.5 million < $5.0 million 1,550 128,181
 $5.0 million < $10.0 million 1,550 198,551
 $10.0 million < $20.0 million 570 120,690
 $20.0 million or more 337 245,589
All taxable returns 18,359 1,169,942
 Under $1.0 million 463 6,418
 $1.0 million < $1.5 million 5,804 156,823
 $1.5 million < $2.0 million 3,932 142,873
 $2.0 million < $3.5 million 4,581 235,152
 $3.5 million < $5.0 million 1,350 115,282
 $5.0 million < $10.0 million 1,404 183,482
 $10.0 million < $20.0 million 516 110,365
 $20.0 million or more 309 219,547
All nontaxable returns 4,514 180,548
 Under $1.0 million 294 6,755
 $1.0 million < $1.5 million 2,648 60,404
 $1.5 million < $2.0 million 569 22,328
 $2.0 million < $3.5 million 575 26,726
 $3.5 million < $5.0 million 201 12,898
 $5.0 million < $10.0 million 146 15,069
 $10.0 million < $20.0 million 54 10,325
 $20.0 million or more 28 26,042

 Type of deductions

 Attorneys' fees
Tax status and size
of gross estate Number Amount
 (53) (54)

All returns 40,197 1,078,328
 Under $1.0 million 1,568 18,719
 $1.0 million < $1.5 million 15,021 215,798
 $1.5 million < $2.0 million 8,533 162,630
 $2.0 million < $3.5 million 8,440 224,736
 $3.5 million < $5.0 million 2,690 104,056
 $5.0 million < $10.0 million 2,513 141,471
 $10.0 million < $20.0 million 912 83,321
 $20.0 million or more 520 127,597
All taxable returns 26,698 830,060
 Under $1.0 million 839 8,380
 $1.0 million < $1.5 million 8,506 133,451
 $1.5 million < $2.0 million 6,083 120,642
 $2.0 million < $3.5 million 6,326 184,418
 $3.5 million < $5.0 million 1,922 81,907
 $5.0 million < $10.0 million 1,891 117,525
 $10.0 million < $20.0 million 702 70,228
 $20.0 million or more 429 113,508
All nontaxable returns 13,498 248,268
 Under $1.0 million 729 10,339
 $1.0 million < $1.5 million 6,515 82,346
 $1.5 million < $2.0 million 2,450 41,988
 $2.0 million < $3.5 million 2,114 40,318
 $3.5 million < $5.0 million 769 22,149
 $5.0 million < $10.0 million 622 23,946
 $10.0 million < $20.0 million 210 13,093
 $20.0 million or more 91 14,090

 Type of deductions

 Other expenses/
 losses
Tax status and size
of gross estate Number Amount
 (55) (56)

All returns 40,993 1,049,075
 Under $1.0 million 1,652 14,086
 $1.0 million < $1.5 million 15,476 157,692
 $1.5 million < $2.0 million 8,710 139,725
 $2.0 million < $3.5 million 8,487 183,749
 $3.5 million < $5.0 million 2,641 80,682
 $5.0 million < $10.0 million 2,568 141,646
 $10.0 million < $20.0 million 926 106,751
 $20.0 million or more 532 224,744
All taxable returns 26,959 896,237
 Under $1.0 million 935 8,289
 $1.0 million < $1.5 million 8,700 97,189
 $1.5 million < $2.0 million 6,063 109,051
 $2.0 million < $3.5 million 6,312 164,987
 $3.5 million < $5.0 million 1,900 74,092
 $5.0 million < $10.0 million 1,913 127,146
 $10.0 million < $20.0 million 707 100,054
 $20.0 million or more 429 215,429
All nontaxable returns 14,034 152,838
 Under $1.0 million 717 5,797
 $1.0 million < $1.5 million 6,776 60,502
 $1.5 million < $2.0 million 2,647 30,674
 $2.0 million < $3.5 million 2,175 18,762
 $3.5 million < $5.0 million 741 6,590
 $5.0 million < $10.0 million 655 14,500
 $10.0 million < $20.0 million 219 6,697
 $20.0 million or more 103 9,315

 Type of deductions

 Debts and
 mortgages
Tax status and size
of gross estate Number Amount
 (57) (58)

All returns 47,555 7,780,526
 Under $1.0 million 1,660 71,096
 $1.0 million < $1.5 million 17,558 953,830
 $1.5 million < $2.0 million 9,857 844,510
 $2.0 million < $3.5 million 10,305 1,355,115
 $3.5 million < $5.0 million 3,343 636,843
 $5.0 million < $10.0 million 3,050 1,047,290
 $10.0 million < $20.0 million 1,135 706,395
 $20.0 million or more 648 2,165,447
All taxable returns 26,902 3,474,569
 Under $1.0 million 862 19,369
 $1.0 million < $1.5 million 8,507 227,719
 $1.5 million < $2.0 million 5,972 349,026
 $2.0 million < $3.5 million 6,339 564,075
 $3.5 million < $5.0 million 1,987 248,515
 $5.0 million < $10.0 million 1,989 470,697
 $10.0 million < $20.0 million 759 436,779
 $20.0 million or more 487 1,158,390
All nontaxable returns 20,653 4,305,957
 Under $1.0 million 797 51,727
 $1.0 million < $1.5 million 9,051 726,111
 $1.5 million < $2.0 million 3,885 495,484
 $2.0 million < $3.5 million 3,966 791,040
 $3.5 million < $5.0 million 1,356 388,328
 $5.0 million < $10.0 million 1,061 576,593
 $10.0 million < $20.0 million 376 269,616
 $20.0 million or more 161 1,007,057

 Type of deductions

 Bequests to
 surviving spouse
Tax status and size
of gross estate Number Amount
 (59) (60)

All returns 27,380 60,188,300
 Under $1.0 million 663 264,822
 $1.0 million < $1.5 million 9,062 4,626,902
 $1.5 million < $2.0 million 5,814 4,917,675
 $2.0 million < $3.5 million 6,668 10,208,542
 $3.5 million < $5.0 million 2,183 6,292,197
 $5.0 million < $10.0 million 1,912 9,512,834
 $10.0 million < $20.0 million 681 6,907,349
 $20.0 million or more 398 17,457,978
All taxable returns 2,564 11,234,987
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 225 ** 19,226
 $1.5 million < $2.0 million 375 120,256
 $2.0 million < $3.5 million 772 549,846
 $3.5 million < $5.0 million 345 521,586
 $5.0 million < $10.0 million 422 1,346,557
 $10.0 million < $20.0 million 220 1,339,042
 $20.0 million or more 204 7,338,475
All nontaxable returns 24,815 48,953,312
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 9,498 ** 4,872,498
 $1.5 million < $2.0 million 5,439 4,797,420
 $2.0 million < $3.5 million 5,896 9,658,696
 $3.5 million < $5.0 million 1,837 5,770,611
 $5.0 million < $10.0 million 1,489 8,166,277
 $10.0 million < $20.0 million 461 5,568,306
 $20.0 million or more 194 10,119,503

 Type of deductions

 Charitable
 deduction
Tax status and size
of gross estate Number Amount
 (61) (62)

All returns 11,861 14,967,967
 Under $1.0 million 262 9,769
 $1.0 million < $1.5 million 3,779 806,756
 $1.5 million < $2.0 million 2,236 819,135
 $2.0 million < $3.5 million 2,823 1,860,126
 $3.5 million < $5.0 million 933 922,029
 $5.0 million < $10.0 million 1,041 1,755,364
 $10.0 million < $20.0 million 456 1,454,373
 $20.0 million or more 330 7,340,415
All taxable returns 6,800 8,512,100
 Under $1.0 million 157 2,082
 $1.0 million < $1.5 million 1,557 61,772
 $1.5 million < $2.0 million 1,353 133,844
 $2.0 million < $3.5 million 1,776 435,274
 $3.5 million < $5.0 million 620 285,362
 $5.0 million < $10.0 million 712 779,815
 $10.0 million < $20.0 million 354 771,603
 $20.0 million or more 272 6,042,347
All nontaxable returns 5,062 6,455,867
 Under $1.0 million * 105 * 7,687
 $1.0 million < $1.5 million 2,222 744,984
 $1.5 million < $2.0 million 884 685,290
 $2.0 million < $3.5 million 1,048 1,424,852
 $3.5 million < $5.0 million 313 636,667
 $5.0 million < $10.0 million 329 975,549
 $10.0 million < $20.0 million 103 682,770
 $20.0 million or more 58 1,298,067

 Type of deductions

 Allowable
 deductions
Tax status and size
of gross estate Number Amount
 (63) (64)

All returns 64,981 87,450,596
 Under $1.0 million 2,316 414,833
 $1.0 million < $1.5 million 25,102 7,283,114
 $1.5 million < $2.0 million 13,577 7,258,415
 $2.0 million < $3.5 million 13,936 14,343,089
 $3.5 million < $5.0 million 4,195 8,242,501
 $5.0 million < $10.0 million 3,804 12,876,218
 $10.0 million < $20.0 million 1,315 9,425,514
 $20.0 million or more 736 27,606,913
All taxable returns 31,315 26,745,764
 Under $1.0 million 1,053 57,770
 $1.0 million < $1.5 million 10,269 810,499
 $1.5 million < $2.0 million 7,048 1,100,884
 $2.0 million < $3.5 million 7,290 2,309,989
 $3.5 million < $5.0 million 2,162 1,377,515
 $5.0 million < $10.0 million 2,164 3,098,064
 $10.0 million < $20.0 million 808 2,865,309
 $20.0 million or more 520 15,125,733
All nontaxable returns 33,666 60,704,832
 Under $1.0 million 1,263 357,063
 $1.0 million < $1.5 million 14,833 6,472,615
 $1.5 million < $2.0 million 6,529 6,157,531
 $2.0 million < $3.5 million 6,646 12,033,099
 $3.5 million < $5.0 million 2,033 6,864,985
 $5.0 million < $10.0 million 1,640 9,778,154
 $10.0 million < $20.0 million 507 6,560,205
 $20.0 million or more 216 12,481,180

 Taxable estate
Tax status and size
of gross estate Number Amount
 (65) (66)

All returns 62,002 107,204,135
 Under $1.0 million 2,154 1,410,114
 $1.0 million < $1.5 million 23,952 23,392,193
 $1.5 million < $2.0 million 12,959 16,120,287
 $2.0 million < $3.5 million 13,203 21,464,048
 $3.5 million < $5.0 million 4,040 9,155,269
 $5.0 million < $10.0 million 3,721 13,129,353
 $10.0 million < $20.0 million 1,266 8,485,240
 $20.0 million or more 706 14,047,630
All taxable returns 31,328 81,745,096
 Under $1.0 million 1,053 752,774
 $1.0 million < $1.5 million 10,269 12,142,970
 $1.5 million < $2.0 million 7,057 11,093,758
 $2.0 million < $3.5 million 7,290 16,350,182
 $3.5 million < $5.0 million 2,165 7,549,380
 $5.0 million < $10.0 million 2,166 11,812,178
 $10.0 million < $20.0 million 807 8,137,469
 $20.0 million or more 520 13,906,386
All nontaxable returns 30,674 25,459,039
 Under $1.0 million 1,100 657,340
 $1.0 million < $1.5 million 13,682 11,249,223
 $1.5 million < $2.0 million 5,902 5,026,530
 $2.0 million < $3.5 million 5,913 5,113,866
 $3.5 million < $5.0 million 1,875 1,605,889
 $5.0 million < $10.0 million 1,556 1,317,176
 $10.0 million < $20.0 million 459 347,771
 $20.0 million or more 186 141,245

 Adjusted
 taxable gifts
Tax status and size
of gross estate Number Amount
 (67) (68)

All returns 12,181 7,834,604
 Under $1.0 million 1,440 944,291
 $1.0 million < $1.5 million 2,113 578,398
 $1.5 million < $2.0 million 1,675 548,366
 $2.0 million < $3.5 million 2,679 1,093,905
 $3.5 million < $5.0 million 1,329 778,217
 $5.0 million < $10.0 million 1,639 1,348,229
 $10.0 million < $20.0 million 756 897,618
 $20.0 million or more 550 1,645,580
All taxable returns 7,847 5,951,001
 Under $1.0 million 806 535,621
 $1.0 million < $1.5 million 1,310 411,101
 $1.5 million < $2.0 million 1,085 389,837
 $2.0 million < $3.5 million 1,777 844,145
 $3.5 million < $5.0 million 834 577,368
 $5.0 million < $10.0 million 1,108 1,091,794
 $10.0 million < $20.0 million 510 720,739
 $20.0 million or more 417 1,380,394
All nontaxable returns 4,334 1,883,603
 Under $1.0 million 634 408,670
 $1.0 million < $1.5 million 803 167,296
 $1.5 million < $2.0 million 590 158,528
 $2.0 million < $3.5 million 902 249,759
 $3.5 million < $5.0 million 495 200,849
 $5.0 million < $10.0 million 531 256,435
 $10.0 million < $20.0 million 246 176,879
 $20.0 million or more 133 265,186

 Adjusted
 taxable estate
Tax status and size
of gross estate Number Amount
 (69) (70)

All returns 62,205 115,038,739
 Under $1.0 million 2,172 2,354,405
 $1.0 million < $1.5 million 24,001 23,970,591
 $1.5 million < $2.0 million 12,970 16,668,653
 $2.0 million < $3.5 million 13,235 22,557,953
 $3.5 million < $5.0 million 4,060 9,933,486
 $5.0 million < $10.0 million 3,748 14,477,583
 $10.0 million < $20.0 million 1,292 9,382,858
 $20.0 million or more 727 15,693,211
All taxable returns 31,329 87,696,097
 Under $1.0 million 1,053 1,288,395
 $1.0 million < $1.5 million 10,269 12,554,071
 $1.5 million < $2.0 million 7,057 11,483,595
 $2.0 million < $3.5 million 7,290 17,194,328
 $3.5 million < $5.0 million 2,165 8,126,748
 $5.0 million < $10.0 million 2,166 12,903,972
 $10.0 million < $20.0 million 808 8,858,208
 $20.0 million or more 520 15,286,780
All nontaxable returns 30,877 27,342,642
 Under $1.0 million 1,119 1,066,010
 $1.0 million < $1.5 million 13,732 11,416,520
 $1.5 million < $2.0 million 5,913 5,185,058
 $2.0 million < $3.5 million 5,945 5,363,625
 $3.5 million < $5.0 million 1,895 1,806,738
 $5.0 million < $10.0 million 1,582 1,573,611
 $10.0 million < $20.0 million 484 524,650
 $20.0 million or more 207 406,431

 Tentative
 estate tax
Tax status and size
of gross estate Number Amount
 (71) (72)

All returns 62,201 46,802,932
 Under $1.0 million 2,170 849,735
 $1.0 million < $1.5 million 24,001 8,387,500
 $1.5 million < $2.0 million 12,968 6,133,885
 $2.0 million < $3.5 million 13,235 8,855,211
 $3.5 million < $5.0 million 4,060 4,182,918
 $5.0 million < $10.0 million 3,748 6,450,335
 $10.0 million < $20.0 million 1,292 4,373,233
 $20.0 million or more 726 7,570,116
All taxable returns 31,329 37,348,870
 Under $1.0 million 1,053 465,075
 $1.0 million < $1.5 million 10,269 4,504,159
 $1.5 million < $2.0 million 7,057 4,340,711
 $2.0 million < $3.5 million 7,290 6,999,697
 $3.5 million < $5.0 million 2,165 3,554,990
 $5.0 million < $10.0 million 2,166 5,897,589
 $10.0 million < $20.0 million 808 4,186,183
 $20.0 million or more 520 7,400,467
All nontaxable returns 30,872 9,454,063
 Under $1.0 million 1,117 384,660
 $1.0 million < $1.5 million 13,732 3,883,341
 $1.5 million < $2.0 million 5,911 1,793,173
 $2.0 million < $3.5 million 5,945 1,855,514
 $3.5 million < $5.0 million 1,895 627,929
 $5.0 million < $10.0 million 1,582 552,746
 $10.0 million < $20.0 million 484 187,050
 $20.0 million or more 206 169,649

 Gift tax
Tax status and size
of gross estate Number Amount
 (73) (74)

All returns 2,698 1,508,952
 Under $1.0 million 353 113,487
 $1.0 million < $1.5 million 278 28,580
 $1.5 million < $2.0 million 219 33,730
 $2.0 million < $3.5 million 432 122,826
 $3.5 million < $5.0 million 285 93,307
 $5.0 million < $10.0 million 505 259,998
 $10.0 million < $20.0 million 314 223,605
 $20.0 million or more 312 633,419
All taxable returns 1,992 1,212,978
 Under $1.0 million 255 18,718
 $1.0 million < $1.5 million 133 22,709
 $1.5 million < $2.0 million 133 25,925
 $2.0 million < $3.5 million 321 95,027
 $3.5 million < $5.0 million 226 81,801
 $5.0 million < $10.0 million 410 236,574
 $10.0 million < $20.0 million 248 194,329
 $20.0 million or more 266 537,894
All nontaxable returns 705 295,974
 Under $1.0 million 98 94,768
 $1.0 million < $1.5 million 146 5,871
 $1.5 million < $2.0 million 86 7,805
 $2.0 million < $3.5 million 111 27,799
 $3.5 million < $5.0 million 59 11,506
 $5.0 million < $10.0 million 95 23,424
 $10.0 million < $20.0 million 65 29,276
 $20.0 million or more 45 95,525

 Total tax
 before credits
Tax status and size
of gross estate Number Amount
 (75) (76)

All returns 62,164 45,301,833
 Under $1.0 million 2,169 743,075
 $1.0 million < $1.5 million 24,001 8,358,920
 $1.5 million < $2.0 million 12,962 6,100,682
 $2.0 million < $3.5 million 13,212 8,732,385
 $3.5 million < $5.0 million 4,060 4,089,611
 $5.0 million < $10.0 million 3,746 6,190,337
 $10.0 million < $20.0 million 1,290 4,149,628
 $20.0 million or more 724 6,937,195
All taxable returns 31,329 36,135,892
 Under $1.0 million 1,053 446,356
 $1.0 million < $1.5 million 10,269 4,481,450
 $1.5 million < $2.0 million 7,057 4,314,786
 $2.0 million < $3.5 million 7,290 6,904,670
 $3.5 million < $5.0 million 2,165 3,473,188
 $5.0 million < $10.0 million 2,166 5,661,014
 $10.0 million < $20.0 million 808 3,991,854
 $20.0 million or more 520 6,862,573
All nontaxable returns 30,835 9,165,941
 Under $1.0 million 1,116 296,719
 $1.0 million < $1.5 million 13,732 3,877,470
 $1.5 million < $2.0 million 5,905 1,785,895
 $2.0 million < $3.5 million 5,921 1,827,715
 $3.5 million < $5.0 million 1,895 616,423
 $5.0 million < $10.0 million 1,580 529,322
 $10.0 million < $20.0 million 482 157,774
 $20.0 million or more 204 74,622

 Allowable
 unified credit
Tax status and size
of gross estate Number Amount
 (77) (78)

All returns 65,039 23,230,526
 Under $1.0 million 2,321 692,916
 $1.0 million < $1.5 million 25,141 8,620,362
 $1.5 million < $2.0 million 13,586 5,070,126
 $2.0 million < $3.5 million 13,936 5,164,056
 $3.5 million < $5.0 million 4,198 1,553,082
 $5.0 million < $10.0 million 3,806 1,388,793
 $10.0 million < $20.0 million 1,315 474,706
 $20.0 million or more 736 266,486
All taxable returns 31,329 11,240,545
 Under $1.0 million 1,053 331,251
 $1.0 million < $1.5 million 10,269 3,525,037
 $1.5 million < $2.0 million 7,057 2,598,109
 $2.0 million < $3.5 million 7,290 2,714,673
 $3.5 million < $5.0 million 2,165 802,037
 $5.0 million < $10.0 million 2,166 788,160
 $10.0 million < $20.0 million 808 292,353
 $20.0 million or more 520 188,924
All nontaxable returns 33,710 11,989,981
 Under $1.0 million 1,267 361,665
 $1.0 million < $1.5 million 14,872 5,095,324
 $1.5 million < $2.0 million 6,529 2,472,017
 $2.0 million < $3.5 million 6,646 2,449,383
 $3.5 million < $5.0 million 2,034 751,045
 $5.0 million < $10.0 million 1,640 600,633
 $10.0 million < $20.0 million 507 182,352
 $20.0 million or more 216 77,562

 State death
 tax credit
Tax status and size
of gross estate Number Amount
 (79) (80)

All returns 34,026 3,178,663
 Under $1.0 million 1,183 13,733
 $1.0 million < $1.5 million 12,211 258,833
 $1.5 million < $2.0 million 7,321 247,990
 $2.0 million < $3.5 million 7,488 432,291
 $3.5 million < $5.0 million 2,243 254,754
 $5.0 million < $10.0 million 2,230 500,871
 $10.0 million < $20.0 million 827 462,541
 $20.0 million or more 524 1,007,650
All taxable returns 30,896 3,144,091
 Under $1.0 million 961 11,966
 $1.0 million < $1.5 million 10,090 236,334
 $1.5 million < $2.0 million 7,017 244,607
 $2.0 million < $3.5 million 7,218 428,936
 $3.5 million < $5.0 million 2,154 253,642
 $5.0 million < $10.0 million 2,150 499,348
 $10.0 million < $20.0 million 799 461,754
 $20.0 million or more 507 1,007,506
All nontaxable returns 3,130 34,572
 Under $1.0 million 222 1,767
 $1.0 million < $1.5 million 2,121 22,500
 $1.5 million < $2.0 million 304 3,384
 $2.0 million < $3.5 million 270 3,355
 $3.5 million < $5.0 million 89 1,112
 $5.0 million < $10.0 million 80 1,523
 $10.0 million < $20.0 million 27 787
 $20.0 million or more 17 145

 Other tax credits
Tax status and size
of gross estate Number Amount
 (81) (82)

All returns 730 164,624
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 149 ** 2,535
 $1.5 million < $2.0 million 153 10,666
 $2.0 million < $3.5 million 167 25,413
 $3.5 million < $5.0 million 97 18,587
 $5.0 million < $10.0 million 94 32,155
 $10.0 million < $20.0 million 35 13,323
 $20.0 million or more 34 61,943
All taxable returns 693 139,350
 Under $1.0 million d d
 $1.0 million < $1.5 million d d
 $1.5 million < $2.0 million d d
 $2.0 million < $3.5 million d d
 $3.5 million < $5.0 million d d
 $5.0 million < $10.0 million d d
 $10.0 million < $20.0 million d d
 $20.0 million or more d d
All nontaxable returns 37 25,274
 Under $1.0 million d d
 $1.0 million < $1.5 million d d
 $1.5 million < $2.0 million d d
 $2.0 million < $3.5 million d d
 $3.5 million < $5.0 million d d
 $5.0 million < $10.0 million d d
 $10.0 million < $20.0 million d d
 $20.0 million or more d d

 Net estate
 tax
Tax status and size
of gross estate Number Amount
 (83) (84)

All returns 31,329 21,611,904
 Under $1.0 million 1,053 101,868
 $1.0 million < $1.5 million 10,269 718,899
 $1.5 million < $2.0 million 7,057 1,463,160
 $2.0 million < $3.5 million 7,290 3,740,913
 $3.5 million < $5.0 million 2,165 2,400,227
 $5.0 million < $10.0 million 2,166 4,350,019
 $10.0 million < $20.0 million 808 3,224,425
 $20.0 million or more 520 5,612,394
All taxable returns 31,329 21,611,904
 Under $1.0 million 1,053 101,868
 $1.0 million < $1.5 million 10,269 718,899
 $1.5 million < $2.0 million 7,057 1,463,160
 $2.0 million < $3.5 million 7,290 3,740,913
 $3.5 million < $5.0 million 2,165 2,400,227
 $5.0 million < $10.0 million 2,166 4,350,019
 $10.0 million < $20.0 million 808 3,224,425
 $20.0 million or more 520 5,612,394
All nontaxable returns 0 0
 Under $1.0 million 0 0
 $1.0 million < $1.5 million 0 0
 $1.5 million < $2.0 million 0 0
 $2.0 million < $3.5 million 0 0
 $3.5 million < $5.0 million 0 0
 $5.0 million < $10.0 million 0 0
 $10.0 million < $20.0 million 0 0
 $20.0 million or more 0 0

 Generation
 skipping tax
Tax status and size
of gross estate Number Amount
 (85) (86)

All returns 329 115,295
 Under $1.0 million 0 0
 $1.0 million < $1.5 million ** **
 $1.5 million < $2.0 million ** 59 ** 1,500
 $2.0 million < $3.5 million 83 6,429
 $3.5 million < $5.0 million * 13 * 660
 $5.0 million < $10.0 million 71 21,364
 $10.0 million < $20.0 million 43 19,439
 $20.0 million or more 59 65,904
All taxable returns 329 115,295
 Under $1.0 million 0 0
 $1.0 million < $1.5 million ** **
 $1.5 million < $2.0 million ** 59 ** 1,500
 $2.0 million < $3.5 million 83 6,429
 $3.5 million < $5.0 million * 13 * 660
 $5.0 million < $10.0 million 71 21,364
 $10.0 million < $20.0 million 43 19,439
 $20.0 million or more 59 65,904
All nontaxable returns 0 0
 Under $1.0 million 0 0
 $1.0 million < $1.5 million 0 0
 $1.5 million < $2.0 million 0 0
 $2.0 million < $3.5 million 0 0
 $3.5 million < $5.0 million 0 0
 $5.0 million < $10.0 million 0 0
 $10.0 million < $20.0 million 0 0
 $20.0 million or more 0 0

 Community
 property
Tax status and size
of gross estate Number Amount
 (87) (88)

All returns 7,393 37,921,140
 Under $1.0 million 194 272,332
 $1.0 million < $1.5 million 2,476 5,364,446
 $1.5 million < $2.0 million 1,550 4,383,651
 $2.0 million < $3.5 million 1,804 7,403,728
 $3.5 million < $5.0 million 619 4,162,530
 $5.0 million < $10.0 million 496 5,302,619
 $10.0 million < $20.0 million 174 3,421,942
 $20.0 million or more 80 7,609,894
All taxable returns 493 4,240,046
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 53 ** 128,445
 $1.5 million < $2.0 million 77 107,801
 $2.0 million < $3.5 million 165 403,291
 $3.5 million < $5.0 million 56 318,607
 $5.0 million < $10.0 million 70 485,988
 $10.0 million < $20.0 million 41 448,644
 $20.0 million or more 31 2,347,270
All nontaxable returns 6,900 33,681,094
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 2,617 ** 5,508,333
 $1.5 million < $2.0 million 1,473 4,275,849
 $2.0 million < $3.5 million 1,639 7,000,437
 $3.5 million < $5.0 million 562 3,843,923
 $5.0 million < $10.0 million 426 4,816,631
 $10.0 million < $20.0 million 133 2,973,298
 $20.0 million or more 49 5,262,624

 Total
 mutual funds
Tax status and size
of gross estate Number Amount
 (89) (90)

All returns 44,891 16,169,322
 Under $1.0 million 1,344 164,836
 $1.0 million < $1.5 million 17,013 3,421,795
 $1.5 million < $2.0 million 9,499 2,525,031
 $2.0 million < $3.5 million 9,672 3,604,309
 $3.5 million < $5.0 million 3,069 1,587,618
 $5.0 million < $10.0 million 2,783 1,890,861
 $10.0 million < $20.0 million 965 1,084,707
 $20.0 million or more 546 1,890,165
All taxable returns 21,463 8,926,744
 Under $1.0 million 587 91,565
 $1.0 million < $1.5 million 7,139 1,630,098
 $1.5 million < $2.0 million 4,797 1,415,488
 $2.0 million < $3.5 million 4,949 1,973,289
 $3.5 million < $5.0 million 1,493 825,327
 $5.0 million < $10.0 million 1,543 1,137,321
 $10.0 million < $20.0 million 570 679,040
 $20.0 million or more 386 1,174,616
All nontaxable returns 23,427 7,242,578
 Under $1.0 million 757 73,270
 $1.0 million < $1.5 million 9,873 1,791,697
 $1.5 million < $2.0 million 4,702 1,109,543
 $2.0 million < $3.5 million 4,724 1,631,019
 $3.5 million < $5.0 million 1,576 762,291
 $5.0 million < $10.0 million 1,240 753,541
 $10.0 million < $20.0 million 395 405,667
 $20.0 million or more 160 715,549

 Total
 joint property
Tax status and size
of gross estate Number Amount
 (91) (92)

All returns 31,213 11,589,737
 Under $1.0 million 984 163,029
 $1.0 million < $1.5 million 11,293 2,254,502
 $1.5 million < $2.0 million 6,751 1,752,072
 $2.0 million < $3.5 million 7,130 2,427,350
 $3.5 million < $5.0 million 2,156 1,183,919
 $5.0 million < $10.0 million 1,894 1,400,994
 $10.0 million < $20.0 million 648 911,294
 $20.0 million or more 359 1,496,578
All taxable returns 10,489 3,271,838
 Under $1.0 million 304 27,783
 $1.0 million < $1.5 million 3,193 566,534
 $1.5 million < $2.0 million 2,462 543,064
 $2.0 million < $3.5 million 2,540 637,040
 $3.5 million < $5.0 million 751 253,854
 $5.0 million < $10.0 million 740 361,445
 $10.0 million < $20.0 million 290 269,686
 $20.0 million or more 209 612,432
All nontaxable returns 20,725 8,317,899
 Under $1.0 million 680 135,246
 $1.0 million < $1.5 million 8,100 1,687,968
 $1.5 million < $2.0 million 4,289 1,209,008
 $2.0 million < $3.5 million 4,590 1,790,309
 $3.5 million < $5.0 million 1,405 930,065
 $5.0 million < $10.0 million 1,154 1,039,548
 $10.0 million < $20.0 million 358 641,608
 $20.0 million or more 150 884,147

 Total
 lifetime transfers
Tax status and size
of gross estate Number Amount
 (93) (94)

All returns 25,755 58,710,746
 Under $1.0 million 934 493,191
 $1.0 million < $1.5 million 8,490 7,125,797
 $1.5 million < $2.0 million 5,196 6,030,412
 $2.0 million < $3.5 million 6,116 10,156,659
 $3.5 million < $5.0 million 1,824 4,679,969
 $5.0 million < $10.0 million 1,945 8,397,076
 $10.0 million < $20.0 million 753 6,470,443
 $20.0 million or more 497 15,357,198
All taxable returns 12,852 34,893,279
 Under $1.0 million 459 248,789
 $1.0 million < $1.5 million 3,349 2,980,658
 $1.5 million < $2.0 million 2,806 3,312,545
 $2.0 million < $3.5 million 3,241 5,496,951
 $3.5 million < $5.0 million 981 2,572,283
 $5.0 million < $10.0 million 1,159 4,988,841
 $10.0 million < $20.0 million 495 4,128,680
 $20.0 million or more 362 11,164,532
All nontaxable returns 12,903 23,817,467
 Under $1.0 million 475 244,402
 $1.0 million < $1.5 million 5,141 4,145,139
 $1.5 million < $2.0 million 2,391 2,717,867
 $2.0 million < $3.5 million 2,875 4,659,708
 $3.5 million < $5.0 million 844 2,107,686
 $5.0 million < $10.0 million 786 3,408,235
 $10.0 million < $20.0 million 259 2,341,763
 $20.0 million or more 135 4,192,666

 Qualified terminable
 interest property
Tax status and size
of gross estate Number Amount
 (95) (96)

All returns 10,895 27,472,448
 Under $1.0 million 232 48,755
 $1.0 million < $1.5 million 2,372 713,374
 $1.5 million < $2.0 million 2,137 1,099,326
 $2.0 million < $3.5 million 3,069 3,165,403
 $3.5 million < $5.0 million 1,163 2,517,350
 $5.0 million < $10.0 million 1,162 4,380,739
 $10.0 million < $20.0 million 453 3,962,520
 $20.0 million or more 308 11,584,981
All taxable returns 1,013 6,339,831
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 79 ** 10,373
 $1.5 million < $2.0 million 87 39,308
 $2.0 million < $3.5 million 218 168,550
 $3.5 million < $5.0 million 146 211,780
 $5.0 million < $10.0 million 212 589,509
 $10.0 million < $20.0 million 125 804,256
 $20.0 million or more 146 4,516,054
All nontaxable returns 9,883 21,132,617
 Under $1.0 million ** **
 $1.0 million < $1.5 million ** 2,525 ** 751,756
 $1.5 million < $2.0 million 2,049 1,060,017
 $2.0 million < $3.5 million 2,851 2,996,853
 $3.5 million < $5.0 million 1,017 2,305,569
 $5.0 million < $10.0 million 950 3,791,230
 $10.0 million < $20.0 million 328 3,158,264
 $20.0 million or more 162 7,068,927

* Estimates should be used with caution because of the small number of
sample returns on which they were based.

** Data were combined to prevent disclosure of individual taxpayer
data.

d--Data were deleted to prevent disclosure of individual taxpayer data.
However, data are included in the appropriate totals.

[1] The majority of estates file Federal estate tax returns in the year
after a decedent's death. So, in 2004, most returns were filed for
deaths that occurred in 2003, for which the filing threshold was $1.0
million. Because of filing extensions, however, some returns were filed
for deaths that occurred prior to 2002, for which the filing thresholds
were lower. For deaths that occurred in 2004, the filing threshold was
$1.5 million.

[2] Gross estate is shown at the value used to determine estate tax
liability. Gross estate could be reported as of date of death or 6
months thereafter (i.e., alternate valuation method).

[3] The Farm assets category does not include farmland. Farmland was
included in the Other real estate category.

NOTE: Detail may not add to total due to rounding.

Figure A

Federal Transfer Tax Rates and Exemptions,
by Year of Transfer, 2001-2011

 Generation Highest
Year of Estate tax -skipping estate Highest
transfer exemption transfer and GST Gift tax gift
 ($) (GST) tax tax rate exemption tax rate
 exclusion (percent) ($) (percent)
 ($)
 (1) (2) (3) (4) (5)

2001 675,000 675,000 55 675,000 55
2002 1,000,000 1,000,000 50 1,000,000 50
2003 1,000,000 1,000,000 49 1,000,000 49
2004 1,500,000 1,500,000 48 1,000,000 48
2005 1,500,000 1,500,000 47 1,000,000 47
2006 2,000,000 2,000,000 46 1,000,000 46
2007 2,000,000 2,000,000 45 1,000,000 45
2008 2,000,000 2,000,000 45 1,000,000 45
2009 3,500,000 3,500,000 45 1,000,000 45
2010 Repealed Repealed Repealed 1,000,000 35
2011 1,000,000 1,000,000 55 1,000,000 35

Figure B

Total Gross Estate, Tax Purposes, by Sex and
Marital Status, 2004 Estate Tax Decedents

[All figures are estimates based on samples--money amounts are in
thousands of dollars]

 Male decedents Female decedents
Marital status
 Number Amount Number Amount
 (1) (2) (3) (4)

Total 23,746 110,300,153 18,493
Married 14,903 72,040,080 4,678 20,977,505
Widow or widowed 5,631 26,213,004 11,361 46,686,596
Single 1,851 6,415,869 1,154 3,547,902
Other [1] 1,362 5,631,200

[1] Other includes decedents vorced at who were
of their deaths, as well as decedentsunknown.

NOTE: Detail may not add to total

Figure D

Selected Occupations, by Size of Gross Estate,
2004 Estate Tax Decedents

[All figures are estimates based on samples--money amounts are in
thousands of dollars]

 All decedents

Occupation Average
 Percent gross
 Number of estate,
 total tax
 purposes
 (1) (2) (3)

Total 42,239 100.0 4,402
Management occupations 10,275 24.3 5,806
 Chief executives 3,339 7.9 7,922
 Financial managers 499 1.2 6,142
 Farm and ranch managers 1,233 2.9 3,711
 Real estate managers 1,021 2.4 6,505
Business and financial 1,953 4.6 6,131
 occupations
 Accountants and auditors 700 1.7 2,980
Professional occupations 10,800 25.6 3,729
 Engineers, architects, 1,720 4.1 3,231
 surveyors
 Scientists and social 620 1.5 4,116
 scientists
 Lawyers and judges 1,526 3.6 4,350
 Teachers, librarians, 2,636 6.2 3,093
 curators
 Writers, artists, athletes 1,015 2.4 5,105
 entertainers,
 Healthcare occupations 2,775 6.6 3,705
Service occupations 557 1.3 2,798
Sales and office 6,125 14.7 3,679
 occupations
 Sales supervisors 1,984 4.7 4,226
 Other sales occupations 2,092 5.0 4,115
 Administrative support 2,049 4.9 2,703
Farming, fishing and 418 1.0 3,116
 forestry occupations
Construction occupations 862 2.0 3,139
 Construction and 202 0.5 4,277
 extraction and supervisors
Production and 1,452 3.4 3,449
 transportation occupations
Other [1] 9,797 23.2 4,175

 Size of total gross estate,
 tax purposes

 Less than $3.50 $3.5 million or
Occupation million more
 Number Percent Number Percent

 (4) (5) (6) (7)

Total 30,840 100.0 11,399 100.0
Management occupations 6,841 22.2 3,434 30.1
 Chief executives 2,061 6.7 1,278 11.2
 Financial managers 311 1.0 188 1.6
 Farm and ranch managers 989 3.2 244 2.1
 Real estate managers 559 1.8 462 4.1
Business and financial 1,441 4.7 512 4.5
 occupations
 Accountants and auditors 587 1.9 113 1.0
Professional occupations 8,070 26.2 2,730 23.9
 Engineers, architects, 1,422 4.6 298 2.6
 surveyors
 Scientists and social 497 1.6 123 1.1
 scientists
 Lawyers and judges 987 3.2 539 4.7
 Teachers, librarians, 2,100 6.8 536 4.7
 curators
 Writers, artists, athletes 705 2.3 310 2.7
 entertainers,
 Healthcare occupations 1,955 6.3 820 7.2
Service occupations 453 1.5 104 0.9
Sales and office 4,706 15.3 1,419 12.4
 occupations
 Sales supervisors 1,409 4.6 575 5.0
 Other sales occupations 1,561 5.1 531 4.7
 Administrative support 1,736 5.6 313 2.7
Farming, fishing and 345 1.1 73 0.6
 forestry occupations
Construction occupations 697 2.3 165 1.4
 Construction and 132 0.4 70 0.6
 extraction and supervisors
Production and 1,196 3.9 256 2.2
 transportation occupations
Other [1] 7,091 23.0 2,706 23.7

[1] Includes decedents whose occupation ker or retired, or for whom
was as homema

NOTE: Detail may not add to total because of rounding.

Figure E

Selected Industries, by Size of Gross Estate,
2004 Estate Tax Decedents 4

[All figures are estimates based on
samples--money are in thousands of dollars]

 All decedents

 Average gross
 Percent estate, tax
Industry Number of total purposes
 (1) (2) (3)

Total 42,239 100.0 4,402
Education, health, 5,816 13.8 3,873
 social services
Finance, insurance, 4,387 10.4 5,544
 real estate
Manufacturing 4,310 10.2 4,827
Professional services 4,117 9.7 5,162
Retail trade 3,013 7.1 3,734
Agriculture 2,055 4.9 3,734
Public administration, 1,452 3.4 3,251
 military
Construction 1,357 3.2 4,122
Wholesale trade 1,322 3.1 4,423
Information 1,137 2.7 4,898
Other services 1,124 2.7 3,404
Arts, entertainment, 1,064 2.5 4,510
 accommodation
Transportation 904 2.1 3,798
Other [1] 10,181 24.1 4,351

 Size of total gross estate, tax purposes

 Less than $3.5 $3.5 million
 million or more

Industry Number Percent Number Percent
 (4) (5) (6) (7)

Total 30,840 100.0 11,399 100.0
Education, health, 4,425 14.3 1,391 12.2
 social services
Finance, insurance, 2,845 9.2 1,542 13.5
 real estate
Manufacturing 3,144 10.2 1,166 10.2
Professional services 2,883 9.3 1,234 10.8
Retail trade 2,224 7.2 789 6.9
Agriculture 1,605 5.2 450 3.9
Public administration, 1,218 3.9 234 2.1
 military
Construction 967 3.1 390 3.4
Wholesale trade 934 3.0 388 3.4
Information 890 2.9 247 2.2
Other services 932 3.0 192 1.7
Arts, entertainment, 702 2.3 362 3.2
 accommodation
Transportation 699 2.3 205 1.8
Other [1] 7,372 23.9 2,809 24.6

[1] Includes decedents whose occupation was reported as homemaker or
retired, or for whom an industry was not reported.

NOTE: Detail may not add to total because of rounding.

Figure F

Assets, by Size of Gross Estate, 2004 Estate Tax Decedents

[All figures are estimates based on samples--money amounts are in
thousands of dollars]

Asset type All
 Percent
 Amount of total
 gross
 estate
 (1) (2)

Total gross estate, 185,921,379 100.00
 tax purposes
Publicly traded stock 51,504,154 27.7
Investment real estate [1] 23,706,697 12.8
Tax-exempt bonds 18,334,701 9.9
Cash assets 17,499,097 9.4
Personal residence 15,857,140 8.5
Closely held stock 12,647,000 6.8
Retirement assets 12,597,616 6.8
Limited partnerships 4,852,973 2.6
Farms [2] 4,807,250 2.6
Federal bonds 4,569,550 2.5
Insurance [3] 3,942,336 2.1
Mortgages and notes 3,919,863 2.1
Other financial assets 3,897,522 2.1
Noncorporate 2,995,577 1.6
 business assets
Other assets 4,789,903 2.6

 Size of total gross estate, tax purposes

 Small
Asset type (less than $3.5 million)
 Percent of
 Amount total gross
 estate

 (3) (4)

Total gross estate, 66,743,074 100.00
 tax purposes
Publicly traded stock 15,013,099 22.5
Investment real estate [1] 9,018,946 13.5
Tax-exempt bonds 5,750,224 8.6
Cash assets 8,073,837 12.1
Personal residence 8,942,152 13.4
Closely held stock 1,527,359 2.3
Retirement assets 7,079,038 10.6
Limited partnerships 668,438 1.0
Farms [2] 2,329,827 3.5
Federal bonds 1,734,080 2.6
Insurance [3] 2,337,331 3.5
Mortgages and notes 991,715 1.5
Other financial assets 1,709,589 2.6
Noncorporate 487,952 0.7
 business assets
Other assets 1,079,487 1.6

 Size of total gross estate, tax purposes

 Medium
Asset type ($3.5 million < $5 million)
 Percent of
 Amount total gross
 estate

 (5) (6)

Total gross estate, 19,668,543 100.0
 tax purposes
Publicly traded stock 5,055,150 25.7
Investment real estate [1] 2,753,740 14.0
Tax-exempt bonds 1,996,493 10.2
Cash assets 1,993,789 10.1
Personal residence 1,962,331 10.0
Closely held stock 952,068 4.8
Retirement assets 1,711,059 8.7
Limited partnerships 280,847 1.4
Farms [2] 462,126 2.3
Federal bonds 498,832 2.5
Insurance [3] 575,485 2.9
Mortgages and notes 485,267 2.5
Other financial assets 390,379 2.0
Noncorporate 159,266 0.8
 business assets
Other assets 391,713 2.0

 Size of total gross estate, tax purposes

 Large
Asset type ($5 million or more)
 Percent of
 Amount total gross
 estate estate

 (7)

Total gross estate, 99,509,762 100.0
 tax purposes
Publicly traded stock 31,435,905 31.6
Investment real estate [1] 11,934,011 12.0
Tax-exempt bonds 10,587,984 10.6
Cash assets 7,431,472 7.5
Personal residence 4,952,657 5.0
Closely held stock 10,167,573 10.2
Retirement assets 3,807,519 3.8
Limited partnerships 3,903,688 3.9
Farms [2] 2,015,297 2.0
Federal bonds 2,336,638 2.3
Insurance [3] 1,029,520 1.0
Mortgages and notes 2,442,881 2.5
Other financial assets 1,797,554 1.8
Noncorporate 2,348,359 2.4
 business assets
Other assets 3,318,704 3.3

[1] Includes undeveloped land rea estate mutual funds, real estate
partnership, and other investment real estate.

[2] Includes farm land.

[3] Value is shown net of policy loans

NOTE. Detail may not add to total because of rounding

Figure G

Assets, by Age at Death and Sex, 2004 Estate Tax Decedents

[All figures are estimates based on samples--money
amounts are in thousands of dollars]

 All male decedents

 Percent of
Asset type Amount total gross
 estate

 (1) (2)

Total gross 110,300,153 100.0
estate, tax
purposes
Publicly 26,451,686 24.0
traded stock
Investment real 15,031,741 13.6
estate [1]
Tax-exempt 9,834,976 8.9
bonds
Cash assets 9,730,272 8.8
Personal 8,645,453 7.8
residence
Closely held 9,370,395 8.5
stock
Retirement 9,479,563 8.6
assets
Limited 3,549,399 3.2
partnerships
Farms [2] 3,250,712 2.9
Federal bonds 2,496,716 2.3
Insurance [3] 3,427,675 3.1
Mortgages 2,592,385 2.4
and notes
Other financial 2,216,580 2.0
assets
Noncorporate 1,552,148 1.4
business assets
Other assets 2,670,451 2.4

 Age of male decedents

 Under 50

 Percent of
Asset type Amount total gross
 estate

 (3) (4)

Total gross 2,616,037 100.0
estate, tax
purposes
Publicly 279,349 10.7
traded stock
Investment real 358,498 13.7
estate [1]
Tax-exempt 74,641 2.9
bonds
Cash assets 185,979 7.1
Personal 275,158 10.5
residence
Closely held 350,093 13.4
stock
Retirement 184,839 7.1
assets
Limited 35,101 1.3
partnerships
Farms [2] 36,776 1.4
Federal bonds 21,466 0.8
Insurance [3] 563,102 21.5
Mortgages 86,065 3.3
and notes
Other financial 38,189 1.5
assets
Noncorporate 74,256 2.8
business assets
Other assets 52,527 2.0

 Age of male decedents

 50 under 65

 Percent of
Asset type Amount total gross
 estate

 (5) (6)

Total gross 13,129,611 100.0
estate, tax
purposes
Publicly 1,652,094 12.6
traded stock
Investment real 2,181,166 16.6
estate [1]
Tax-exempt 465,358 3.5
bonds
Cash assets 830,327 6.3
Personal 1,200,263 9.1
residence
Closely held 1,657,631 12.6
stock
Retirement 1,874,692 14.3
assets
Limited 344,421 2.6
partnerships
Farms [2] 422,082 3.2
Federal bonds 130,814 1.0
Insurance [3] 1,345,331 10.2
Mortgages 263,873 2.0
and notes
Other financial 149,640 1.1
assets
Noncorporate 288,989 2.2
business assets
Other assets 322,931 2.5

 Age of male decedents

 65 and older

 Percent of
Asset type Amount total gross
 estate

 (7) (8)

Total gross 94,554,505 100.0
estate, tax
purposes
Publicly 24,520,242 25.9
traded stock
Investment real 12,492,078 13.2
estate [1]
Tax-exempt 9,294,977 9.8
bonds
Cash assets 8,713,967 9.2
Personal 7,170,033 7.6
residence
Closely held 7,362,672 7.8
stock
Retirement 7,420,033 7.8
assets
Limited 3,169,877 3.4
partnerships
Farms [2] 2,791,854 3.0
Federal bonds 2,344,437 2.5
Insurance [3] 1,519,242 1.6
Mortgages 2,242,447 2.4
and notes
Other financial 2,028,751 2.1
assets
Noncorporate 1,188,904 1.3
business assets
Other assets 2,294,993 2.4

 All male decedents

 Percent of
Asset type Amount total gross
 estate

 (1) (2)

Total gross 75,621,227 100.0
estate, tax
purposes
Publicly 25,052,468 33.1
traded stock
Investment real 8,674,956 11.5
estate [1]
Tax-exempt 8,499,725 11.2
bonds
Cash assets 7,768,824 10.3
Personal 7,211,688 9.5
residence
Closely held 3,276,604 4.3
stock
Retirement 3,118,053 4.1
assets
Limited 1,303,574 1.7
partnerships
Farms [2] 1,556,538 2.1
Federal bonds 2,072,834 2.7
Insurance [3] 514,661 0.7
Mortgages 1,327,478 1.8
and notes
Other financial 1,680,942 2.2
assets
Noncorporate 1,443,429 1.9
business assets
Other assets 2,119,452 2.8

 Age of male decedents

 Under 50

 Percent of
Asset type Amount total gross
 estate

 (3) (4)

Total gross 851,868 100.0
estate, tax
purposes
Publicly 131,948 15.5
traded stock
Investment real 99,653 11.7
estate [1]
Tax-exempt 38,501 4.5
bonds
Cash assets 81,007 9.5
Personal 132,392 15.5
residence
Closely held 66,052 7.8
stock
Retirement 82,171 9.6
assets
Limited 24,419 2.9
partnerships
Farms [2] 18,939 2.2
Federal bonds 14,404 1.7
Insurance [3] 70,625 8.3
Mortgages 20,148 2.4
and notes
Other financial 14,989 1.8
assets
Noncorporate 26,108 3.1
business assets
Other assets 30,512 3.6

 Age of male decedents

 50 under 65

 Percent of
Asset type Amount total gross
 estate

 (5) (6)

Total gross 942,792 100.0
estate, tax
purposes
Publicly 954,744 19.3
traded stock
Investment real 887,667 18.0
estate [1]
Tax-exempt 313,436 6.3
bonds
Cash assets 420,661 8.5
Personal 763,016 15.4
residence
Closely held 266,971 5.4
stock
Retirement 509,707 10.3
assets
Limited 81,872 1.7
partnerships
Farms [2] 141,287 2.9
Federal bonds 72,195 1.5
Insurance [3] 141,281 2.9
Mortgages 99,207 2.0
and notes
Other financial 100,431 2.0
assets
Noncorporate 61,726 1.2
business assets
Other assets 128,589 2.6

 Age of male decedents

 65 and older

 Percent of
Asset type Amount total gross
 estate

 (7) (8)

Total gross 69,826,567 100.0
estate, tax
purposes
Publicly 23,965,776 34.3
traded stock
Investment real 7,687,636 11.0
estate [1]
Tax-exempt 8,147,787 11.7
bonds
Cash assets 7,267,156 10.4
Personal 6,316,279 9.0
residence
Closely held 2,943,581 4.2
stock
Retirement 2,526,175 3.6
assets
Limited 1,197,283 1.7
partnerships
Farms [2] 1,396,313 2.0
Federal bonds 1,986,235 2.8
Insurance [3] 302,755 0.4
Mortgages 1,208,123 1.7
and notes
Other financial 1,565,523 2.2
assets
Noncorporate 1,355,595 1.9
business assets
Other assets 1,960,352 2.8

[1] Includes undeveloped land, real estate mutual funds,
real estate partnerships. and other investment real estate

[2] Includes farm land

[3] Value is shown net of policy loans

NOTE: Detail may not add to total because of rounding.

Figure H

Family Limited Partnership (FLP) Holdings,
by Tax Status and Size of Gross Estate,
2004 Estate Tax Decedents

[All figures are estimates based on samples--money
amounts are in thousands of dollars]

Tax status and size of Number of As a Amount
total gross returns percent held
estate, tax purposes with of all in FLPs
 FLPs returns

 (1) (2) (3)

All returns 1,513 3.6 2,954,261
 $1.5 million < $2.0 million 292 2.0 177,790
 $2.0 million < $3.5 million 588 3.7 518,558
 $3.5 million < $5.0 million 162 3.4 149,716
 $5.0 million < $10.0 million 253 5.8 525,789
 $10.0 million < $20.0 million 120 8.2 437,765
 $20.0 million or more 99 12.4 1,144,643

All taxable returns 808 4.2 2,166,882
 $1.5 million < $2.0 million 97 1.8 64,686
 $2.0 million < $3.5 million 311 4.0 328,288
 $3.5 million < $5.0 million 107 4.4 126,744
 $5.0 million < $10.0 million 138 5.8 370,400
 $10.0 million < $20.0 million 79 9.2 325,802
 $20.0 million or more 76 14.9 950,963

All nontaxable returns 705 3.1 787,379
 $1.5 million < $2.0 million 195 2.1 113,104
 $2.0 million < $3.5 million 276 3.3 190,270
 $3.5 million < $5.0 million 55 2.4 22,972
 $5.0 million < $10.0 million 115 5.7 155,389
 $10.0 million < $20.0 million 41 6.8 111,963
 $20.0 million or more 23 7.9 193,681

NOTE: Detail may not add to total because of rounding.

Figure I

Family Limited Partnership (FLP) 004 Estate Tax Holdings,

[All figures are estimates based on samples--money amounts
are in thousands of dollars]

 All
 decedents Decedents with
 family limited
 partnership
 holdings

Marital status Number Number Amount

 (1) (2) (3)

Total 42,239 1,513 2,954,261
Married 19,580 750 1,190,310
Widow or widowed 16,992 657 1,597,944
Single 3,005 25 15,788
Other [1] 2,662 82 150,219

 Decedents with
 family limited
 partnership
 holdings

 Percent
 of all
 decedents
 with family
 limited
Marital status Average FLP value partnership
 holdings

 (4) (5)

Total 1,953 4
Married 1,587 4
Widow or widowed 2,432 4
Single 632 1
Other [1] 1,832 3

[1] Other category includes divorced, legally separated, and
those for whom marital status was not reported.

NOTE: Detail may not add to total because of rounding.

Figure J

Family Limited Partnership (FLP) Holdings, by Age at Death,
2004 Estate Tax Decedents

[All figures are estimates based on samples--money amounts
are in thousands

 All Decedents with family Percent
 decedents limited partnership of all
 decedents
 with family
 limited
Age Number Number Amount Average partnership
 FLP value holdings

 (1) (2) (3) (4) (5)

Total 42,239 1,513 2,954,261 1,953 3.6
Under 50 1,064 33 26,823 813 3.1
50 under 60 2,181 63 44,527 707 2.9
60 under 70 5,087 149 177,532 1,191 2.9
70 under 80 9,730 392 649,344 1,656 4.0
80 under 90 15,671 595 1,337,649 2,248 3.8
90 and older 8,506 280 718,386 2,566 3.3

NOTE: Detail may not add to

Figure K

Composition of Family Limited Partnerships, by Size
of Gross Estate, 2004 Estate Tax Decedents

[All figures are estimates based on samples-money
amounts are in thousands of dollars)

 Size of total gross
 estate, tax purposes

 Small
 All (less than $3.5
 million)

 Percent Percent
Asset type Amount of total Amount of total

 (1) (2) (3) (4)

Total 2,954,261 100.0 696,349 100.0
Stock [1] 1,128,515 38.2 135,703 19.5
Real 653,658 22.1 249,095 35.8
estate [2]
Bonds 344,434 11.7 66,054 9.5
Limited 343,652 11.6 111,586 16.0
partnerships
Farms [3] 169,020 5.7 58,690 8.4
Cash assets 126,428 4.3 35,975 5.2
Other assets 188,554 6.4 39,246 5.6

 Size of total gross estate, tax purposes

 Medium Large
 ($3 5 million ($5 million or more)
 < $5 million)

 Percent Percent
Asset type Amount of total Amount of total

 (5) (6) (7) (8)

Total 149,716 100.0 2,108,197 100.0
Stock [1] 58,323 39.0 934,489 44.3
Real 38,654 25.8 365,909 17.4
estate [2]
Bonds 15,079 10.1 263,301 12.5
Limited 19,081 12.7 212,985 10.1
partnerships
Farms [3] 5,548 3.7 104,783 5.0
Cash assets 4,009 2.7 86,444 4.1
Other assets 9,022 6.0 140,286 6.7

[1] Includes closely held and publicly traded stock,

[2] Includes personal residences, undeveloped land, real
estate mutual funds, real estate partnerships, and other
investment real estate

[3] Includes farm land

NOTE: Detail may not add to total because of rounding

Figure L

Composition of Valuation Discounts, by
Asset Type, 2004 Estate Tax Decedents

[All figures are estimates based on samples--money
amounts are in thousands of dollars]

 Valuation discounts

Asset type Percent
 Amount of total

Total 6,476,962 100
Stock [1] 3,519,070 54
Real estate [2] 1,278,342 20
Limited partnerships 869,776 13
Farms [3] 291,083 5
Noncorporate business assets 208,472 3
Other assets 310,219 5

[1] Includes closely held and publicly traded stock.

[2] Includes personal residences, undeveloped land,
real estate mutual funds, real estate partnerships,
and other investment real estate.

[3] Includes farm land.

NOTE: Detail may not add to total because of rounding.

Figure P

Total Gross Estate and Charitable tate, 2004
Estate Bequests, by

[All figures are estimates based on samples--money
amounts are in thousands of

 Estates Percent
 Number with with
Size of gross of all charitable charitable
estate estates bequests bequests

 (1) (2) (3)

Total 42,239 8,722 20.6
$1.5 million 14,818 2,450 16.5
< $2.0 million
$2.0 million 16,022 3,216 20.1
< $3.5 million
$3.5 million 4,756 1,069 22.5
< $5.0 million
$5.0 million 4,384 1,160 26.5
< $10.0 million
$10.0 million 1,458 474 32.5
< $20.0 million
$20.0 million 801 354 44.2
or more

 Total gross
 estate, tax
 purposes, Amount of Bequests
Size of gross all charitable percent
estate decedents bequests [1] estate

 (4) (5) (6)

Total 185,921,379 178,270,150 9.6
$1.5 million 25,487,122 969,820 3.8
< $2.0 million
$2.0 million 41,255,953 1,885,376 4.6
< $3.5 million
$3.5 million 19,668,543 1,167,311 5.9
< $5.0 million
$5.0 million 29,661,196 2,044,272 6.9
< $10.0 million
$10.0 million 19,962,325 1,735,225 8.7
< $20.0 million
$20.0 million 49,886,242 10,025,010 20.1
or more

[1] Charitable bequests presented in this figure are gross
charitable bequests. Unlike the charitable deduction value
reported in Table 2 of this article, gross charitable
bequests have not been reduced by Federal estate,
generation-skipping, and State death taxes. Since the
charitable deduction is not allowed for these taxes that are
paid out of property designated for charity, gross charitable
bequests are larger than the charitable deduction.

NOTE: Detail may not add to total because of rounding.

Figure Q

Top Charitable Bequests to Recipient Organizations,
by Size of Gross Estate, 2004 Estate Tax Decedents

[All figures are estimates based on samples--money
amounts are in thousands of dollars]

 Size of
 gross estate,
 tax purposes

 Small
Type of (less than $3.5
organization [1] All million)

 Percent Percent
 Bequest of total Bequest of total
 amount [2] bequests amount [2] bequests

 (1) (2) (3) (4)

Total 17,827,014 100.0 2,855,195 100.0
Philanthropy and 10,289,345 57.7 387,501 13.6
volunteerism (T)
Educational 2,605,507 14.6 820,175 28.7
institutes (B)
Religion, spiritual 1,085,648 6.1 529,054 18.5
development (X)
Human service (P) 658,151 3.7 222,896 7.8
Health, general and 603,890 3.4 228,055 8.0
rehabilitative (E)
Arts, culture, 501,923 2.8 57,934 2.0
humanities (A)
Disease, disorder, 299,588 1.7 153,531 5.4
and medical (G)
Animal-related 288,343 1.6 77,311 2.7
activities (D)
Other/unknown 1,494,619 8.4 378,738 13.3

 Size of gross estate, tax purposes

 Medium Large
Type of ($3.5 million ($5 million or more)
organization [1] < $5 million)

 Percent Percent
 Bequest of total Bequest of total
 mount [2] bequests amount [2] bequests

 (5) (6) (7) (8)

Total 1,167,311 100.0 13,804,507 100.0
Philanthropy and 212,428 18.2 9,689 70.2
volunteerism (T)
Educational 329,068 28.2 1,456 10.5
institutes (B)
Religion, spiritual 113,111 9.7 443,482 3.2
development (X)
Human service (P) 123,003 10.5 312,252 2.3
Health, general and 88,683 7.6 287,151 2.1
rehabilitative (E)
Arts, culture, 60,288 5.2 383,700 2.8
humanities (A)
Disease, disorder, 49,401 4.2 96,656 0.7
and medical (G)
Animal-related 61,981 5.3 149,051 1.1
activities (D)
Other/unknown 129,348 11.1 986,535 7.1

[1] National Taxonomy of Exempt Entities i NIT FFj code is
given in parentheses In all, there are 26 entity types in
the NTEE coding system Here, the other/unknown' category
includes all entity types not specifically listed and
entity types unknown. In Table 4 of this article, entity
types are combined into 10 broad categories.

[2] Charitable bequests presented in this figure are
gross charitable bequests. Unlike the charitable deduction
value reported in Table 2 of this article, gross charitable
bequests have not been reduced by Federal estate,
generation-skipping, and State death taxes Since the
charitable deduction is not allowed for these taxes that
are paid out of property designated for charity. gross
charitable bequests are larger than the charitable deduction

NOTE. Detail may not add to total because of rounding.
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Author:Raub, Brian G.
Publication:Statistics of Income. SOI Bulletin
Date:Mar 22, 2008
Words:24126
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