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2. Prepare the gift tax returns for 2009 and 2012, as well as for the current year, based on recommendations. The applicable credit amount
2. Prepare the gift tax returns for 2009 and 2012, as well as for the current year, based on recommendations. The applicable credit amount for gift tax purposes was $345,800 in 2009, $1,772,800 in 2012, and $2,125,800 in 2016. The annual exclusion was $13,000 in 2009 and 2012, and is $14,000 in 2016.
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