Your client and her husband agreed to split the following lifetime cash gifts: Total Gifts to Son
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Question:
Your client and her husband agreed to split the following lifetime cash gifts:
Total Gifts to Son | Total Gifts to Daughter | |
---|---|---|
2014 | $90,000 | $70,000 |
2021 | $80,000 | $100,000 |
How much of your client's applicable credit is used by the 2021 gifts only? Use the Unified Federal Estate and Gift Tax Rates table.
A) $16,320
B) $24,400
C) $58,800
D) $11,080
Related Book For
Legal Research Analysis and Writing
ISBN: 978-1133591900
3rd edition
Authors: William H. Putman, Jennifer Albright
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