Arthur Downing died January 26, 2021 at age 78. He made taxable transfers of $15.54 million and had no taxable estate. On his estate tax return, an election is made to allow his wife Zelda to use his unused exclusion amount. Zelda had made no taxable gifts at the time of Arthur's death. What is her applicable exclusion amount?

 
 

Answer rating: 100% (QA)

The applicable exclusion amount is the amount that an individual can transfer taxfree during their l... View the full answer