I am trying to determine where the dollar amount of $5,389,800 comes from in the instructions for Line 7 of Part II of Form 709. Thanks in advance.
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(as Recalculated for 2024 Rates)
Period | Exclusion Amounts | Credit Amounts |
1977 (Quarters 1 & 2) | $30,000 | $6,000 |
1977 (Quarters 3 & 4) | $120,667 | $30,000 |
1978 | $134,000 | $34,000 |
1979 | $147,333 | $38,000 |
1980 | $161,563 | $42,500 |
1981 | $175,625 | $47,000 |
1982 | $225,000 | $62,800 |
1983 | $275,000 | $79,300 |
1984 | $325,000 | $96,300 |
1985 | $400,000 | $121,800 |
1986 | $500,000 | $155,800 |
1987 through 1997 | $600,000 | $192,800 |
1998 | $625,000 | $202,050 |
1999 | $650,000 | $211,300 |
2000 and 2001 | $675,000 | $220,550 |
2002 through 2010 | $1,000,000 | $345,800 |
2011 | $5,000,000 | $1,945,800 |
2012 | $5,120,000 | $1,993,800 |
2013 | $5,250,000 | $2,045,800 |
2014 | $5,340,000 | $2,081,800 |
2015 | $5,430,000 | $2,117,800 |
2016 | $5,450,000 | $2,125,800 |
2017 | $5,490,000 | $2,141,800 |
2018 | $11,180,000 | $4,417,800 |
2019 | $11,400,000 | $4,505,800 |
2020 | $11,580,000 | $4,577,800 |
2021 | $11,700,000 | $4,625,800 |
2022 | $12,060,000 | $4,769,800 |
2023 | $12,920,000 | $5,113,800 |
2024 | $13,610,000 | $5,389,800 |
https://www.irs.gov/instructions/i709#en_US_2024_publink1000292380
Thank you for this info.
Rick
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