Tina has $100,000,000. She transfers $80,000,000 to a revocable trust. She manages to give the other $20,000,000

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Tina has $100,000,000. She transfers $80,000,000 to a revocable trust. She manages to give the other $20,000,000 away as gifts before she dies. The federal gift tax exclusion amount is $12,000,000 and the estate tax rate is 40%.

How much will Tina's estate owe in estate taxes after her death?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Apr 03, 2023 03:45 AM

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Tina has $100,000,000. She transfers $80,000,000 to a revocable trust. She manages to give the other $20,000,000

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The amount of Tinas estate that will be subject to estate tax will be 80000000 the amoun... View the full answer

Income Tax Fundamentals 2013

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