EXHIBIT 25-1 Unified Transfer Tax Rates* Tax Base Equal to or Over Not Over $0 $10,000...

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EXHIBIT 25-1 Unified Transfer Tax Rates* Tax Base Equal to or Over Not Over $0 $10,000 10,000 20,000 20,000 40,000 40,000 60,000 60,000 80,000 80,000 100,000 100,000 150,000 150,000 250,000 250,000 500,000 500,000 750,000 750,000 1,000,000 1,000,000 Tentative Tax $0 18% 1,800 20 3,800 22 8,200 24 13,000 26 18,200 28 23,800 30 38,800 32 70,800 34 155,800 37 248,300 39 345,800 40 *The applicable credit and exemption are zero for estates that opted out of the estate tax in 2010. Plus of Amount Over $0 10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 1,000,000 EXHIBIT 25-2 The Exemption Equivalent Year of Transfer Gift Tax $500,000 600,000 625,000 1986 1987-1997 1998 1999 2000-2001 2002-2003 2004-2005 2006-2008 2009-2010* 650,000 675,000 1,000,000 1,000,000 1,000,000 1,000,000 5,000,000 5,120,000 5,250,000 5,340,000 5,430,000 5,450,000 5,490,000 11,180,000 11,400,000 11,580,000 11,700,000 Estate Tax $500,000 600,000 625,000 650,000 675,000 1,000,000 1,500,000 2,000,000 3,500,000 5,000,000 5,120,000 5,250,000 5,340,000 5,430,000 2011 2012 2013 2014 2015 2016 5,450,000 2017 5,490,000 2018 11,180,000 2019 11,400,000 2020 11,580,000 2021 11,700,000 *The applicable credit and exemption are zero for taxpayers who opt out of the estate tax in 2010. 9 Part 1 of 3 0.3 points Required information [The following information applies to the questions displayed below.] Roland had a taxable estate of $17.7 million when he died this year. Required: Calculate the amount of estate tax due (if any) under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars and not in millions of dollars.) a. Roland's prior taxable gifts consist of a taxable gift of $1 million in 2005. Answer is complete but not entirely correct. Estate tax due $ 3,008,000 > 10 Part 2 of 3 0.35 points Required information [The following information applies to the questions displayed below.] Roland had a taxable estate of $17.7 million when he died this year. Required: Calculate the amount of estate tax due (if any) under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars and not in millions of dollars.) b. Roland's prior taxable gifts consist of a taxable gift of $1.5 million in 2005. Return to question Answer is complete but not entirely correct. Estate tax due $ 3,048,000 > 11 Part 3 of 3 0.35 points eBook Print References Required information [The following information applies to the questions displayed below.] Roland had a taxable estate of $17.7 million when he died this year. Required: Calculate the amount of estate tax due (if any) under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars and not in millions of dollars.) c. Roland made a $1 million taxable gift in the year prior to his death. Estate tax due EXHIBIT 25-1 Unified Transfer Tax Rates* Tax Base Equal to or Over Not Over $0 $10,000 10,000 20,000 20,000 40,000 40,000 60,000 60,000 80,000 80,000 100,000 100,000 150,000 150,000 250,000 250,000 500,000 500,000 750,000 750,000 1,000,000 1,000,000 Tentative Tax $0 18% 1,800 20 3,800 22 8,200 24 13,000 26 18,200 28 23,800 30 38,800 32 70,800 34 155,800 37 248,300 39 345,800 40 *The applicable credit and exemption are zero for estates that opted out of the estate tax in 2010. Plus of Amount Over $0 10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 1,000,000 EXHIBIT 25-2 The Exemption Equivalent Year of Transfer Gift Tax $500,000 600,000 625,000 1986 1987-1997 1998 1999 2000-2001 2002-2003 2004-2005 2006-2008 2009-2010* 650,000 675,000 1,000,000 1,000,000 1,000,000 1,000,000 5,000,000 5,120,000 5,250,000 5,340,000 5,430,000 5,450,000 5,490,000 11,180,000 11,400,000 11,580,000 11,700,000 Estate Tax $500,000 600,000 625,000 650,000 675,000 1,000,000 1,500,000 2,000,000 3,500,000 5,000,000 5,120,000 5,250,000 5,340,000 5,430,000 2011 2012 2013 2014 2015 2016 5,450,000 2017 5,490,000 2018 11,180,000 2019 11,400,000 2020 11,580,000 2021 11,700,000 *The applicable credit and exemption are zero for taxpayers who opt out of the estate tax in 2010. 9 Part 1 of 3 0.3 points Required information [The following information applies to the questions displayed below.] Roland had a taxable estate of $17.7 million when he died this year. Required: Calculate the amount of estate tax due (if any) under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars and not in millions of dollars.) a. Roland's prior taxable gifts consist of a taxable gift of $1 million in 2005. Answer is complete but not entirely correct. Estate tax due $ 3,008,000 > 10 Part 2 of 3 0.35 points Required information [The following information applies to the questions displayed below.] Roland had a taxable estate of $17.7 million when he died this year. Required: Calculate the amount of estate tax due (if any) under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars and not in millions of dollars.) b. Roland's prior taxable gifts consist of a taxable gift of $1.5 million in 2005. Return to question Answer is complete but not entirely correct. Estate tax due $ 3,048,000 > 11 Part 3 of 3 0.35 points eBook Print References Required information [The following information applies to the questions displayed below.] Roland had a taxable estate of $17.7 million when he died this year. Required: Calculate the amount of estate tax due (if any) under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars and not in millions of dollars.) c. Roland made a $1 million taxable gift in the year prior to his death. Estate tax due

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Assuming tax rate for the year of 2021 for all 3 scenarios 11700000 Gift tax and Estate tax ... View the full answer