In March 1976, Sue made a taxable gift of $200,000. In arriving at the amount of her
Question:
In March 1976, Sue made a taxable gift of $200,000. In arriving at the amount of her taxable gift, Sue elected to deduct the $30,000 specific exemption then available. In 2018, Sue makes her next gift; the taxable amount is $13 mill ion.
a. What unified credit can Sue claim on her 2018 return?
b. What unified credit can Sue claim on her 2018 return if she made the 1976 gift in December instead of March?
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a 4417800 the amount for 2018 here the credit is not reduced bec...View the full answer
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Related Book For
Global Taxation How Modern Taxes Conquered The World
ISBN: 9780192897572
1st Edition
Authors: Philipp Genschel, Laura Seelkopf
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