Question: Will, a bachelor, died in 2015. At that time, his sole asset was cash of $6 million. Assume no debts or funeral and administration expenses

Will, a bachelor, died in 2015. At that time, his sole asset was cash of $6 million. Assume no debts or funeral and administration expenses and no charitable bequests. His gift history was as follows:

a. What was Will€™s estate tax base?
b. How would your answer to Part a change if Will made the first gift in 1974 (instead of 1987)?

Amount of TaableGits FMV of Gift Property at Date of Death Date October 1987 S270,000 5290,000 October 1991 90,000 45,000

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