Fair Market Value of Gross Estate






This is the total dollar value of everything owned by the decedent at the time of his or her death, including non-probate assets, plus the value of any gifts made within three years of the date of death.
Required

Include all real and personal property – including jointly-held property (stocks, bonds, and other securities, bank accounts, certificates or money market accounts, life insurance, tangible personal effects, business interests and partnerships, and any other tangible or intangible assets. The inheritance tax return is not required if the gross estate of a resident decedent is less than the single exemption allowed by T.C.A. Section 67-8-316, unless the estate was probated. In that case, the representative will need to file a Short Form Inheritance Tax Return in order to obtain a closing certificate. In the case of resident decedent’s dying between 2006 and 2012, the allowable exemption is $1,000,000; in 2013, the allowable exemption is $1,250,000; in 2014, the allowable exemption is $2,000,000; in 2015, the allowable exemption is $5,000,000. The Tennessee inheritance tax will not apply to estates of decedents dying in 2016 or thereafter.





Has an Inheritance Tax Return been filed?
If yes, enter date
Will an Inheritance Tax Return be filed?

Yes

No

Yes

No