The Act increases the federal estate and gift tax unified credit basic exclusion amount to $10 million (adjusted for inflation from the same 2010 base year), effective for decedents dying and gifts made after 2017 and before 2026.

For 2018 the federal estate and gift tax unified credit basic exclusion amount adjusted for inflation is $11,180,000.00.

For 2018 the "annual exclusion" for gift taxes adjusted for inflation is $15,000.00.

The federal estate tax exemption in 2026 and beyond, according to the law that was passed in December 2017 by the Federal Congress , will revert to where it is was in 2017. It will drop from roughly $11 million to roughly $5.5 million.