Question: Assume the same facts as in Problem 47, except that Gordon and Fawn are husband and wife (not brother and sister). a. What are the

Assume the same facts as in Problem 47, except that Gordon and Fawn are husband and wife (not brother and sister).
a. What are the gift tax consequences in 2002?
b. What are the estate tax consequences in 2016?
c. Under part (b), would your answer change if it was Fawn (not Gordon) who died in 2016? Explain.

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a In 2002 Gordon made a gift to Fawn of 450000 12 of 900000 Due to the marital d... View full answer

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