In 2017, Sondra makes taxable gifts aggregating $300,000. Her only other taxable gifts amount to $200,000, all

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In 2017, 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 2017 gift tax liability?

b. What is her 2017 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 2018 Comprehensive

ISBN: 9780134532387

31st Edition

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

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Question Posted: Apr 04, 2018 03:26 AM

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In 2017, 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 ...View the full answer

Federal Taxation 2018 Comprehensive

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