Answer each question by defining the term in your own words to demonstrate an understanding. Cite any pertinent Internal Revenue Code sections or Regulations when possible. 1. Applicable Credit Amount 2. Crummey Power 3. Unified Credit 4. Annual Exclusion Answer each question by defining the term in your own words to demonstrate an understanding. Cite any pertinent Internal Revenue Code sections or Regulations when possible. 1. Applicable Credit Amount 2. Crummey Power 3. Unified Credit 4. Annual Exclusion