Computing Federal Estate Tax Due Name: Mark McKinley Date: 11/30/2012 Amount Total Amount Line Computation Item Gross estate Subtract sum of: (a) Funeral expenses 2 (b) Administrative expenses (c) Debts (d) Other expenses Total: Result: Adjusted gross estate 3 Subtract sum of: (a) Marital deduction (b) Charitable deduction Total: Result: Taxable estate Add: Adjusted taxable gifts (post-1976) Estate tax base Result: Tentative tax on estate tax basea Compute: Subtract sum of: (a) Gift tax payable on post-1976 gifts (b) Unified tax creditb Total: Result: Total estate taxes 10 Subtract: 11 Other credits Result: Federal estate tax due 12 aUse Exhibit 15.7 to calculate the tentative tax. buse Exhibit 15.8 to determine the appropriate unified tax credit. Use the following dropdown menus to obtain the relevant tax schedules and credits: Tax schedules and credits Exhibits Exhibit 15.7 Federal Unified Transfer Tax Rates Exhibit 15.8 Unified Credits and Applicable Exclusion Amounts for Estates and Gifts Computing Federal Estate Tax Due Name: Mark McKinley Date: 11/30/2012 Amount Total Amount Line Computation Item Gross estate Subtract sum of: (a) Funeral expenses 2 (b) Administrative expenses (c) Debts (d) Other expenses Total: Result: Adjusted gross estate 3 Subtract sum of: (a) Marital deduction (b) Charitable deduction Total: Result: Taxable estate Add: Adjusted taxable gifts (post-1976) Estate tax base Result: Tentative tax on estate tax basea Compute: Subtract sum of: (a) Gift tax payable on post-1976 gifts (b) Unified tax creditb Total: Result: Total estate taxes 10 Subtract: 11 Other credits Result: Federal estate tax due 12 aUse Exhibit 15.7 to calculate the tentative tax. buse Exhibit 15.8 to determine the appropriate unified tax credit. Use the following dropdown menus to obtain the relevant tax schedules and credits: Tax schedules and credits Exhibits Exhibit 15.7 Federal Unified Transfer Tax Rates Exhibit 15.8 Unified Credits and Applicable Exclusion Amounts for Estates and Gifts