In December 2015, Curt and Kate elected gift splitting to report $16,228,000 of gifts of stocks Curt

Question:

In December 2015, Curt and Kate elected gift splitting to report $16,228,000 of gifts of stocks Curt made to Curt, Jr. Each paid gift taxes of $1,068,000 by spending his or her own funds. Kate died in January 2017 and was survived by Curt. Her only taxable gift was the one reported for 2015. When Kate died in 2017, the stock had appreciated to $18.8 million. With respect to the 2015 gift, what amount was included in Kate’s gross estate, and what amount was reportable as adjusted taxable gifts?

Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...