IRC 2503 Annual exclusion for a gift of $10,000 indexed ($11,000 in 2002-2005, $12,000 in 2006 - 2008, $13,000 in 2009-2012 and $14,000 in 2013-2016) per donee. The gift must be a gift of present interest.

1. In January of 2009, Ann gave Beth a gift of Target stock worth $580,000. (There were no prior gifts).

Total CY gross gifts = $580,000

Less annual exclusions and deductions = $13,000

Total taxable gifts = $567,000

Calculate tentative tax on total taxable gifts Less Unified Credit (UC) =

Current gift tax =

2. In January of 2011, Ann gave John a gift of Home Depot stock worth $833,000.

Total CY gross gifts = $833,000

Less annual exclusions and deductions = $13,000

Current taxable gifts = $820,000

Plus total PYs taxable gifts =

Total PY & CY taxable gifts =

Calculate tentative tax on total taxable gifts =

Less tentative tax payable on PYs taxable gifts =

Tentative tax on CY taxable gifts =

Less unused Unified Credit (UC) =

Current gift tax =

3. In January of 2014, Ann gave $4,664,000 cash to George and $3,374,000 to Sam.

Total CY gross gifts = $8,038,000

Less annual exclusions and deductions =$ 28,000

Current taxable gifts = $$8,010,000

Plus total PYs taxable gifts = $

Total PY & CY taxable gifts = $

Calculate tentative tax on total taxable gifts =

Less tentative tax payable on PYs taxable gifts =

Tentative tax on CY taxable gifts =

Less unused Unified Credit (UC) =

Current gift tax=