Sue died on May 3, 2019. On October 1, 2016, Sue gave her son Tom land valued

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Sue died on May 3, 2019. On October 1, 2016, Sue gave her son Tom land valued at $7,014,000. Sue applied a unified credit of $2,125,800 against the gift tax due on this transfer. On Sue's date of death the land was valued at $9.4 million.

a. With respect to this transaction, what amount was included in Sue's gross estate?

b. What is the amount of Sue's adjusted taxable gifts attributable to the 2016 gift?

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Federal Taxation 2020 Comprehensive

ISBN: 9780135196274

33rd Edition

Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse

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Question Posted: Aug 24, 2022 02:34 AM

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Sue died on May 3, 2019. On October 1, 2016, Sue gave her son Tom land valued

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a Inclusion in gross estate under grossup rule 2745800 ...View the full answer

Federal Taxation 2020 Comprehensive

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