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1 Required information [The following information applies to the questions displayed below.) Roland had a taxable estate of $17.1 million when he died this year. Required: Calculate the amount of estate tax due (if any) under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2) (Enter your answers in dollars and not in millions of dollars.) a. Roland's prior taxable gifts consist of a taxable gift of $1 million in 2005. Estate tax due $ EXHIBIT 25-1 Unified Transfer Tax Rates* Tax Base Equal to or Over Not Over Tentative Tax Plus of Amount Over 0 $10,000 $ 0 18% S 0 10.000 20.000 1.800 20 10,000 3,800 20.000 20,000 40,000 40,000 60.000 8.200 24 60.000 13.000 26 80.000 100 000 80,000 18.200 28 150.000 23.800 30 250.000 38.800 32 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 1,000,000 100.000 150.000 250,000 500.000 750,000 1.000.000 34 500.000 750,000 1,000,000 70.800 155,800 248,300 39 345,800 40 *The applicable credit and exemption are zero for estates that opted out of the estate tax in 2010. EXHIBIT 25-2 The Exemption Equivalent Year of Transfer Gift Tax Estate Tax 1986 $500,000 $500,000 1987-1997 1998 600,000 625,000 650.000 600,000 625.000 1999 650,000 20002001 675,000 2002-2003 675,000 1,000,000 1.500.000 20042005 2006-2008 1,000,000 1,000,000 1,000,000 1,000,000 5,000,000 2009-2010 2011 2012 5,120,000 2013 2014 2015 2016 5,250.000 5.340.000 5.430,000 5.450.000 5.490,000 2,000,000 3,500,000 5,000,000 5.120 000 5,250,000 5,340.000 5.430,000 5,450.000 5.490.000 11,180,000 11,400,000 11.580,000 11,700.000 2017 2018 11.180.000 2019 2020 11.400.000 11,580,000 2021 11,700,000 *The applicable credit and exemption are zero for taxpayers who opt out of Saved ! Required information The following information applies to the questions displayed below] Roland had a taxable estate of $171 million when he died this year. Required: Calculate the amount of estate tax due (if any) under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars and not in millions of dollars.) b. Roland's prior taxable gifts consist of a taxable gift of $1.5 million in 2005. Estate tax due ! Required information [The following information applies to the questions displayed below.] Roland had a taxable estate of $171 million when he died this year. Required: Calculate the amount of estate tax due (if any) under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2) (Enter your answers in dollars and not in millions of dollars.) c. Roland made a $1 million taxable gift in the year prior to his death. Estate tax due $ 0