Sue died on May 3, 2019. On October 1, 2016, Sue gave her son Tom land valued
Question:
Sue died on May 3, 2019. On October 1, 2016, Sue gave her son Tom land valued at $7,014,000. Sue applied a unified credit of $2,125,800 against the gift tax due on this transfer. On Sue's date of death the land was valued at $9.4 million.
a. With respect to this transaction, what amount was included in Sue's gross estate?
b. What is the amount of Sue's adjusted taxable gifts attributable to the 2016 gift?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Federal Taxation 2020 Comprehensive
ISBN: 9780135196274
33rd Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
Question Posted: