Mr.and Mrs.Holt made no taxable gifts during their lifetimes.Mrs.Holt died two years ago.Her estate tax return shows that she owed no estate tax and had an $800,000 unused lifetime exclusion.Mr.Hold died in 2017.The lifetime transfer tax exclusion available to his estate is $6,290,000.

Question

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The unused lifetime exclusion from Mrs. Holt can be transferred to Mr. Holt's estate, increasing his exclusion amount to $7,090,000 ($6,290,000 + $800,000).

MrAnd MrsHolt Made No Taxable Gifts During Their Lifetimes