2. Calculating the Gift Tax. What is the total amount removed from Joshua's estate in 2022 ? 3. Calculating the Gift Tax. What will be the gift tax in 2021 ? 4. Calculating the Gift Tax. In 2021 , you gave a $15,000 cash gift to your best friend. What is the gift tax? Problems 5, 6 , and 7 are based on the following scenario: Barry and his wife Mary have accumulated over $4 million during their 45 years of marriage. They have three children and five grandchildren. 5. Calculating the Gift Tax. How much money can Barry and Mary gift to their children in 2021 without any gift tax liability? 6. Calculating the Gift Tax. How much money can Barry and Mary gift to their grandchildren? 7. Calculating the Gift Tax. What is the total amount removed from Barry and Mary's estate? 8. Calculating the Estate Tax. The date of death for a widow was 2021 . If the estate was valued at $2,129,000 and the estate was taxed at 40 percent, what was the heir's tax liability