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§ 2001. Imposition and rate of tax
(a)
Imposition
A tax is hereby imposed on the transfer of the taxable estate of every decedent who is a citizen or resident of the United States.
(b)
Computation of tax
The tax imposed by this section shall be the amount equal to the excess (if any) of—
(2)
the aggregate amount of tax which would have been payable under chapter 12 with respect to gifts made by the decedent after December 31, 1976, if the provisions of subsection (c) (as in effect at the decedent’s death) had been applicable at the time of such gifts.
For purposes of paragraph (1)(B), the term “adjusted taxable gifts” means the total amount of the taxable gifts (within the meaning of section
2503) made by the decedent after December 31, 1976, other than gifts which are includible in the gross estate of the decedent.
(c)
Rate schedule
(1)
In general
| If the amount withrespect to which thetentative tax to becomputed is: | The tentative tax is: |
|---|---|
| Not over $10,000 | 18 percent of such amount. |
| Over $10,000 but not over $20,000 | $1,800, plus 20 percent of the excess of such amount over $10,000. |
| Over $20,000 but not over $40,000 | $3,800, plus 22 percent of the excess of such amount over $20,000. |
| Over $40,000 but not over $60,000 | $8,200 plus 24 percent of the excess of such amount over $40,000. |
| Over $60,000 but not over $80,000 | $13,000, plus 26 percent of the excess of such amount over $60,000. |
| Over $80,000 but not over $100,000 | $18,200, plus 28 percent of the excess of such amount over $80,000. |
| Over $100,000 but not over $150,000 | $23,800, plus 30 percent of the excess of such amount over $100,000. |
| Over $150,000 but not over $250,000 | $38,800, plus 32 percent of the excess of such amount over $150,000. |
| Over $250,000 but not over $500,000 | $70,800, plus 34 percent of the excess of such amount over $250,000. |
| Over $500,000 but not over $750,000 | $155,800, plus 37 percent of the excess of such amount over $500,000. |
| Over $750,000 but not over $1,000,000 | $248,300, plus 39 percent of the excess of such amount over $750,000. |
| Over $1,000,000 but not over $1,250,000 | $345,800, plus 41 percent of the excess of such amount over $1,000,000. |
| Over $1,250,000 but not over $1,500,000 | $448,300, plus 43 percent of the excess of such amount over $1,250,000. |
| Over $1,500,000 but not over $2,000,000 | $555,800, plus 45 percent of the excess of such amount over $1,500,000. |
| Over $2,000,000 but not over $2,500,000 | $780,800, plus 49 percent of the excess of such amount over $2,000,000. |
| Over $2,500,000 | $1,025,800, plus 50% of the excess over $2,500,000. |
(2)
Phasedown of maximum rate of tax
(A)
In general
In the case of estates of decedents dying, and gifts made, in calendar years after 2002 and before 2010, the tentative tax under this subsection shall be determined by using a table prescribed by the Secretary (in lieu of using the table contained in paragraph (1)) which is the same as such table; except that—
(d)
Adjustment for gift tax paid by spouse
For purposes of subsection (b)(2), if—
(1)
the decedent was the donor of any gift one-half of which was considered under section
2513 as made by the decedent’s spouse, and
(e)
Coordination of sections
2513 and
2035
If—
(1)
the decedent’s spouse was the donor of any gift one-half of which was considered under section
2513 as made by the decedent, and
(2)
the amount of such gift is includible in the gross estate of the decedent’s spouse by reason of section
2035,
such gift shall not be included in the adjusted taxable gifts of the decedent for purposes of subsection (b)(1)(B), and the aggregate amount determined under subsection (b)(2) shall be reduced by the amount (if any) determined under subsection (d) which was treated as a tax payable by the decedent’s spouse with respect to such gift.
(f)
Valuation of gifts
(1)
In general
If the time has expired under section
6501 within which a tax may be assessed under chapter 12 (or under corresponding provisions of prior laws) on—
(A)
the transfer of property by gift made during a preceding calendar period (as defined in section
2502
(b)); or
the value thereof shall, for purposes of computing the tax under this chapter, be the value as finally determined for purposes of chapter 12.
(2)
Final determination
For purposes of paragraph (1), a value shall be treated as finally determined for purposes of chapter 12 if—
(A)
the value is shown on a return under such chapter and such value is not contested by the Secretary before the expiration of the time referred to in paragraph (1) with respect to such return;
(B)
in a case not described in subparagraph (A), the value is specified by the Secretary and such value is not timely contested by the taxpayer; or
For purposes of subparagraph (A), the value of an item shall be treated as shown on a return if the item is disclosed in the return, or in a statement attached to the return, in a manner adequate to apprise the Secretary of the nature of such item.
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