2 John and his wife gave following gifts to their children, Harry and Jenny $200,000 in 2016 $150,000 in 2017 $100,000 in 2018 Calculate the value of the gift tax using the table below The annual exclusion for 2016 2017 is $14,000 and for 2018 is $15,000 the lifetime estate and gift tax basic exclusion amount is 2016 in $5,450,000 2017 in $5,490,000, and 2018 in 11,180,000 Calculate the value of the gift tax using the table below 4 Plus Taxable Gifts from Prior Years 5 Total Taxable Gifts 6 Tax on Total Taxable Gifts 7 Tax on Prior Gifts 8 Balance 9 Applicable Credit 10 Applicable Credit Against Tax for all Prior Periods 11 Balance (subtract 10 from 9) 12 Applicable Credit (smaller of 8 or 11) 13 Total Gift tax ( 8 minus 12) 2 John and his wife gave following gifts to their children, Harry and Jenny $200,000 in 2016 $150,000 in 2017 $100,000 in 2018 Calculate the value of the gift tax using the table below The annual exclusion for 2016 2017 is $14,000 and for 2018 is $15,000 the lifetime estate and gift tax basic exclusion amount is 2016 in $5,450,000 2017 in $5,490,000, and 2018 in 11,180,000 Calculate the value of the gift tax using the table below 4 Plus Taxable Gifts from Prior Years 5 Total Taxable Gifts 6 Tax on Total Taxable Gifts 7 Tax on Prior Gifts 8 Balance 9 Applicable Credit 10 Applicable Credit Against Tax for all Prior Periods 11 Balance (subtract 10 from 9) 12 Applicable Credit (smaller of 8 or 11) 13 Total Gift tax ( 8 minus 12)

Question

2  John and his wife gave following gifts to their children, Harry and Jenny    $200,000 in 2016   $150,000 in 2017   $100,000 in 2018 Calculate the value of the gift tax using the table below  The annual exclusion for 2016 2017 is $14,000 and for 2018 is $15,000  the lifetime estate and gift tax basic exclusion amount is 2016 in $5,450,000 2017 in $5,490,000, and 2018 in 11,180,000  Calculate the value of the gift tax using the table below  4  Plus Taxable Gifts from Prior Years 5  Total Taxable Gifts 6  Tax on Total Taxable Gifts 7  Tax on Prior Gifts 8  Balance 9  Applicable Credit 10  Applicable Credit Against Tax for all Prior Periods 11  Balance (subtract 10 from 9) 12  Applicable Credit (smaller of 8 or 11) 13  Total Gift tax ( 8 minus 12) 2  John and his wife gave following gifts to their children, Harry and Jenny    $200,000 in 2016   $150,000 in 2017   $100,000 in 2018 Calculate the value of the gift tax using the table below  The annual exclusion for 2016 2017 is $14,000 and for 2018 is $15,000  the lifetime estate and gift tax basic exclusion amount is 2016 in $5,450,000 2017 in $5,490,000, and 2018 in 11,180,000  Calculate the value of the gift tax using the table below  4  Plus Taxable Gifts from Prior Years 5  Total Taxable Gifts 6  Tax on Total Taxable Gifts 7  Tax on Prior Gifts 8  Balance 9  Applicable Credit 10  Applicable Credit Against Tax for all Prior Periods 11  Balance (subtract 10 from 9) 12  Applicable Credit (smaller of 8 or 11) 13  Total Gift tax ( 8 minus 12)

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2. John and his wife gave following gifts to their children, Harry and Jenny: - $200,000 in 2016 - $150,000 in 2017 - $100,000 in

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