The annual exclusion gift amount will be $13,000 (there is no inflation adjustment for the 2012 amount).
IRS Posts Publication 4895, Tax Treatment of Property Acquired from a Decedent Dying in 2010
IRS posted on October 19, 2011, Publication 4895. If you have an estate filing Form 8939 (Basis allocation form) or a 2010 estate that is filing a Form 706 (and extended un March 17, 2012), then this is a must read!
Final Form 706 for 2011 decedents released
The one major change on this Form 706 is the change in the applicable exclusion amount to incorporate a predeceased spouses unused exemption amount (for predeceased spouse’s dying after December 31, 2010).