(1) In general In the case of any calendar year after 2011, the dollar amount in subsection (a)(1) shall be increased by an amount equal to— (A) such dollar amount, multiplied by (B) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year by substituting calendar year 2010 for calendar year 1992 in subparagraph (B) thereof. (2) Rounding If any amount as adjusted under paragraph (1) is not a multiple of $10,000, such amount shall be rounded to the nearest multiple of $10,000. . (3) Other conforming amendments related to gift tax (A) The heading for section 2505 of such Code is amended by striking Unified . (B) The item in the table of sections for subchapter A of chapter 12 of such Code relating to section 2505 is amended to read as follows: Sec. 2505. Credit against gift tax. . (C) Section 2801(a)(1) of such Code is amended by striking section 2001(c) as in effect on the date of such receipt and inserting section 2502(a)(2) . (d) Effective date The amendments made by this section shall apply to estates of decedents dying, generation-skipping transfers, and gifts made, on or after the date of the enactment of this Act. (e) Transition rule (1) In general For purposes of applying sections 1015(d), 2502, and 2505 of the Internal Revenue Code of 1986, the calendar year in which this Act is enacted shall be treated as two separate calendar years one of which ends on the day before the date of the enactment of this Act and the other of which begins on such date of enactment. (2) Application of section 2504(b) For purposes of applying section 2504(b) of the Internal Revenue Code of 1986, the calendar year in which this Act is enacted shall be treated as one preceding calendar period.