Share of principal operator farm estates with estate-tax returns and estate taxes, 2020F

Pie chart with 3 items.

Item 1, Not required to file estate-tax return 99.4%
Item 2, Estate must file estate-tax return, and estate taxes owed 0.44%
Item 3,Estate must file estate-tax return, no estate taxes owed 0.16%

Note: If an estate has a gross value greater than the exemption amount ($11.58 million in 2020), it must file a return. 'F' denotes a forecast based on 2019 data on the age distribution of farm operators and 2017 data on mortality rates. Results account for adjustments, deductions, and exemptions including any unused exemption amount from a spouse. Source: USDA, Economic Research Service using data from USDA’s 2019 Agricultural Resource Management Survey, USDA’s 2020 June Area Survey, Social Security Administration’s 2017 Actuarial Life Table, and Internal Revenue Service’s 2020 Farm Credit System Bank Loan Interest Rates.