In 2010 casey made a taxable gift of $7.5 million to both stephanie and linda (a total
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Question:
In 2010 casey made a taxable gift of $7.5 million to both stephanie and linda (a total of $15.0millionin taxablegifts) Calculate the amount of gift tax due this year and Casey's unused exemption equivalent under the following alternatives.
c. This year Casey made a gift worth $17.5 million to Stephanie. Casey is married to Helen in a common law state, and the 2010 gift was the only other taxable gift he or Helen has ever made. Casey and Helen elect to gift split.
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