PARTS A B C

Mr. Ito, an unmarried indlvidual, made a glft of real estate to his son. Assume the taxable year is 2022 Required: a. Compute the amount subject to federal glft tax when the FMV of the real estate was $4.75 million, and the transfer was Mr. Ito's first taxable glft. b. Compute the amount subject to federal glft tax when the FMV of the real estate was $15 millon, and the transfer was Mr. Ito's first taxable glft. c. Compute the amount subject to federal gift tax when the FMV of the real estate was $15 million. Two years ago, Mr. Ito made his first. taxable gift: marketable securlties with a $3 million FMV in excess of the annual exclusion. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Compute the amount subject to federal gift tax when the FMV of the real estate was $15 million, and the transfer was Mr. Ito's first taxable gift. Note: Enter your answer in dollars and not in millions of dollars. Individual Tax Rate Schedules Tax rates for capital gains and qualified dividends * The highest income amount in this range for each filing status is referred to as maximum zero rate amount. ** The highest income amount in this range for each filling status is referred to as maximum 15-percent amount \begin{tabular}{|l|r|} \hline Married filing jointly and surviving spouses & $25,900 \\ \hline Married filing separately & 12,950 \\ \hline Head of household & 19,400 \\ \hline Single & 12,950 \\ \hline \end{tabular} Mr. Ito, an unmarried indlvidual, made a glft of real estate to his son. Assume the taxable year is 2022 Required: a. Compute the amount subject to federal glft tax when the FMV of the real estate was $4.75 million, and the transfer was Mr. Ito's first taxable glft. b. Compute the amount subject to federal glft tax when the FMV of the real estate was $15 millon, and the transfer was Mr. Ito's first taxable glft. c. Compute the amount subject to federal gift tax when the FMV of the real estate was $15 million. Two years ago, Mr. Ito made his first. taxable gift: marketable securlties with a $3 million FMV in excess of the annual exclusion. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Compute the amount subject to federal gift tax when the FMV of the real estate was $15 million, and the transfer was Mr. Ito's first taxable gift. Note: Enter your answer in dollars and not in millions of dollars. Individual Tax Rate Schedules Tax rates for capital gains and qualified dividends * The highest income amount in this range for each filing status is referred to as maximum zero rate amount. ** The highest income amount in this range for each filling status is referred to as maximum 15-percent amount \begin{tabular}{|l|r|} \hline Married filing jointly and surviving spouses & $25,900 \\ \hline Married filing separately & 12,950 \\ \hline Head of household & 19,400 \\ \hline Single & 12,950 \\ \hline \end{tabular}