In March 1976, Sue made a taxable gift of $200,000. In arriving at the amount of her

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In March 1976, Sue made a taxable gift of $200,000. In arriving at the amount of her taxable gift, Sue elected to deduct the $30,000 specific exemption then available. In 2017, Sue makes her next gift; the taxable amount is $6.5 million.

a. What unified credit can Sue claim on her 2017 return?

b. What unified credit can Sue claim on her 2017 return if she made the 1976 gift in December instead of March?

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Federal Taxation 2018 Comprehensive

ISBN: 9780134532387

31st Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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Question Posted: Apr 04, 2018 03:29 AM

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In March 1976, Sue made a taxable gift of $200,000. In arriving at the amount of her

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a 2141800 the amount for 2017 here the credit is not reduced be...View the full answer

Federal Taxation 2018 Comprehensive

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