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Please answer what goes in each box. EXHIBIT 25-1 Unified Transfer Tax Rates* Tax Base Equal to or Over Not Over Plus Tentative Tax of

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedPlease answer what goes in each box.

EXHIBIT 25-1 Unified Transfer Tax Rates* Tax Base Equal to or Over Not Over Plus Tentative Tax of Amount Over 18% 20 $10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 ,000,000 0 10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 ,000,000 0 1,800 3,800 8,200 13,000 18,200 23,800 38,800 70,800 155,800 248,300 345,800 0 10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 1,000,000 24 26 28 30 32 34 37 39 40 The applicable credit and exemption Is zero for estates that opted out of the estate tax in 2010 EXHIBIT 25-2 The Exemption Equivalent 1987-1997 2000-2001 2002-2003 2 2009-2010 2011 2012 2013 2014 2015 5 5 5 5 5 2016 5 2017 2018 11.180.000 The applicable credit and exemption is zero for taxpayers who opt out of the estate tax in 2010 Required information The following information applies to the questions displayed below. Tom Hruise was an entertainment executive who had a fatal accident on a film set. Tom's will directed his executor to distribute his cash and stock to his wife, Kaffie, the real estate to his church, The First Church of Methodology, and the remainder of his assets were to be placed in trust for his three children. Tom's estate consisted of the following: AssetS: $ 1,050,000 24,100,000 72,000,000 15,100,000 s112,250,000 Personal assets Cash and stock Intangible assets (film rights) Real estate Liabilities: $ 3,300,000 4,200,000 $7,500,000 Mortgage Other 1liabilities a. Tom made a taxable gift of $5.20 million in 2011. Compute the estate tax for Tom's estate. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars, not millions of dollars.) a. Tom made a taxable gift of $5.20 million in 2011. Compute the estate tax for Tom's estate. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars, not millions of dollars.) Gross estate Debts Adjustable gross estate Marital deduction Charitable deduction Taxable estate Adjusted taxable gifts Cumulative taxable transfers Current tax rates Tax on cumulative transfers Gift taxes payable on adjusted taxable gifts at current rate Tentative estate tax Applicable credit Gross estate tax EXHIBIT 25-1 Unified Transfer Tax Rates* Tax Base Equal to or Over Not Over Plus Tentative Tax of Amount Over 18% 20 $10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 ,000,000 0 10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 ,000,000 0 1,800 3,800 8,200 13,000 18,200 23,800 38,800 70,800 155,800 248,300 345,800 0 10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 1,000,000 24 26 28 30 32 34 37 39 40 The applicable credit and exemption Is zero for estates that opted out of the estate tax in 2010 EXHIBIT 25-2 The Exemption Equivalent 1987-1997 2000-2001 2002-2003 2 2009-2010 2011 2012 2013 2014 2015 5 5 5 5 5 2016 5 2017 2018 11.180.000 The applicable credit and exemption is zero for taxpayers who opt out of the estate tax in 2010 Required information The following information applies to the questions displayed below. Tom Hruise was an entertainment executive who had a fatal accident on a film set. Tom's will directed his executor to distribute his cash and stock to his wife, Kaffie, the real estate to his church, The First Church of Methodology, and the remainder of his assets were to be placed in trust for his three children. Tom's estate consisted of the following: AssetS: $ 1,050,000 24,100,000 72,000,000 15,100,000 s112,250,000 Personal assets Cash and stock Intangible assets (film rights) Real estate Liabilities: $ 3,300,000 4,200,000 $7,500,000 Mortgage Other 1liabilities a. Tom made a taxable gift of $5.20 million in 2011. Compute the estate tax for Tom's estate. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars, not millions of dollars.) a. Tom made a taxable gift of $5.20 million in 2011. Compute the estate tax for Tom's estate. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars, not millions of dollars.) Gross estate Debts Adjustable gross estate Marital deduction Charitable deduction Taxable estate Adjusted taxable gifts Cumulative taxable transfers Current tax rates Tax on cumulative transfers Gift taxes payable on adjusted taxable gifts at current rate Tentative estate tax Applicable credit Gross estate tax

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