In 2016, Sondra makes taxable gifts aggregating $300,000. Her only other taxable gifts amount to $200,000, all

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In 2016, Sondra makes taxable gifts aggregating $300,000. Her only other taxable gifts amount to $200,000, all of which she made in 1997.

a. What is Sondra's 2016 gift tax liability?

b. What is her 2016 gift tax liability under the assumption that she made the $200,000 of taxable gifts in 1974 instead of 1997?

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Federal Taxation 2017 Comprehensive

ISBN: 9780134421438

30th Edition

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

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Question Posted: Sep 05, 2016 10:18 AM

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In 2016, Sondra makes taxable gifts aggregating $300,000. Her only other taxable gifts amount to $200,000, all

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The tax payable is zero determined as follows a Tax on 500000 155800 Minus T...View the full answer

Federal Taxation 2017 Comprehensive

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