In 2012, Gordon purchased real estate for $900,000 and listed title to the property as Gordon and

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In 2012, Gordon purchased real estate for $900,000 and listed title to the property as "Gordon and Fawn, joint tenants with right of survivorship." Gordon predeceases Fawn in 2018 when the real estate is worth $2.9 million. Gordon and Fawn are brother and sister.
a. Did a gift occur in 2012? Explain.
b. What, if any, are the estate tax consequences in 2018?
c. Under part (b), would your answer change if it was Fawn (not Gordon) who died in 2018? Explain.

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South Western Federal Taxation 2018 Corporations Partnerships Estates And Trusts

ISBN: 1389

41st Edition

Authors: William H. Hoffman, William A. Raabe, James C. Young, Annette Nellen, David M. Maloney

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Question Posted: Jan 30, 2018 08:39 AM

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In 2012, Gordon purchased real estate for $900,000 and listed title to the property as Gordon and

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a Gordon made a gift of 450000 12 of 900000 to Fawn Unless the parties pr...View the full answer

South Western Federal Taxation 2018 Corporations Partnerships Estates And Trusts

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