In December 2013, Jody transferred stock having an $8,114,000 FMV to her daughter Joan. Jody paid $1,140,000

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In December 2013, Jody transferred stock having an $8,114,000 FMV to her daughter Joan. Jody paid $1,140,000 ($3,185,800 - $2,045,800) of gift taxes on this transfer. When Jody died in January 2016, the stock was valued at $9 million. Jody made no other gifts during her lifetime. With respect to this gift transaction, what amount was includible in Jody's gross estate, and what amount was reportable as adjusted taxable gifts?
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Federal Taxation 2017 Comprehensive

ISBN: 9780134421438

30th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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