A donor made large taxable gifts beginning in 2000 and a taxable gift in the current year.
Question:
A donor made large taxable gifts beginning in 2000 and a taxable gift in the current year. In the intervening years, the highest gift tax rates declined. In calculating the tax on taxable gifts of previous periods, which rate schedule is applicable: the one for the year in which the donor made the earlier gifts or the one for the current period?
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The current period The rate schedule for the current peri...View the full answer
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Related Book For 
Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts
ISBN: 9780135919460
34th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
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