[20211022]IF11954_《重建更好法案》（BBBA）中房地产和信托的税收变化.pdf

https:/crsreports.congress.gov October 22, 2021Tax Changes for Estates and Trusts in the Build Back Better Act (BBBA)The Build Back Better Act (BBBA; H.R. 5376) would revise the estate and gift tax and treatment of trusts. It would eliminate the temporary increase in exemptions enacted in the Tax Cuts and Jobs Act (TCJA; P.L. 115-97), increase the limits on certain discounts of value for businesses to reflect use rather than market value, eliminate minority discounts for cash and readily marketable securities, and revise the rules for grantor trusts. Changes in the Estate and Gift Tax Exemption The estate and gift tax applies on a unified basis on lifetime gifts plus the estate at a 40% rate after deducting an exemption. The taxable estate is transfers (i.e., the estate plus lifetime gifts) minus transfers to a spouse, charitable transfers, certain estate tax costs, and the exemption. (A separate annual gift exclusion for each donee is set at $15,000 in 2021.) The estate tax exemption was set at $5 million in 2011, adjusted for inflation. The TCJA doubled that exemption for 2018-2025; with inflation adjustments, the exemption is $11.7 million in 2021. The surviving spouse inherits