Estate Tax Statistics For 1989 And 1990

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Estate Tax Statistics for 1989 and 1990The number of Federal estate tax returns filed for U.S. decedents with gross estates at or above the 600,000 filingrequirement was 45,695 in 1989 and 50,367 in 1990, a two year increase of 23 percent from 1988. The size of thesedecedents' combined estates grew to 87 billion in 1990, which represents growth of almost 26 percent over the sameperiod. Continuing a trend, corporate stock was the most significant asset in the portfolios of decedents in both years,followed by investments in real estate.Reported tax also increased during both years, a break from therecent past, rising to almost 9 billion in 1990, an increaseof 43 percent over 1988. For estates reporting tax, the average reported tax as a percentage ofgross estate increased from15.8 percent in 1988 to 17.7 percent in 1990. The increase may be due in part to revisions in the tax codes which had aneffect on both allowable deductions and the valuation ofclosely held businesses includable in gross estate. Approximately45 percent of the returns filed in 1989 and 1990 reported a tax liability.Table I on the following pages summarizes data on the assets, deductions, tax credits and estate tax for returns filedin 1989; Table 2 provides the same information for returns filed in 1990. Table 3 presents the gross estate, taxable estate,state death tax credit and estate tax, by state, for returns filed in 1990. More extensive data analysis for decedents dyingin 1989, as well as for returns filed between 1989 and 199 1, will be included in an upcoming article, "Estate Tax Returns,1989-199 1," by Barry Johnson, which will be included in a future issue of the Statistics ofIncome Bulletin.63

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in 1989, as well as forreturns filedbetween 1989 and 199 1, will be included in an upcoming article, "EstateTax Returns, 1989-199 1," by Barry Johnson, which will be included in a future issue ofthe Statistics ofIncome Bulletin. 63. 64 a Z Estate Tax Returns, 1989-1990 XqArG&3@-

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