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Required information Problem 14-58 (LO 14-3) [The following information applies to the questions displayed below.) Part 2 of 3 Roland had a taxable estate of
Required information Problem 14-58 (LO 14-3) [The following information applies to the questions displayed below.) Part 2 of 3 Roland had a taxable estate of $15.5 million when he died this year. 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.) points Problem 14-58 Part b Print b. Roland's prior taxable gifts consist of a taxable gift of $1.5 million in 2005. Estate tax due EXHIBIT 25-1 Unified Transfer Tax Rates * Tentative Tax Plus of Amount Over 18% $ 0 Tax Base Equal to or Over $ 0 10,000 20,000 Not Over $10,000 20,000 40,000 $ 0 1,800 20 10,000 3,800 22 20,000 60,000 8,200 24 40,000 26 28 40,000 60,000 80,000 100,000 150,000 250,000 500,000 80,000 100,000 150,000 250,000 500,000 750,000 1,000,000 13,000 18,200 23,800 38,800 30 60,000 80,000 100,000 150,000 250,000 500,000 32 70,800 34 155,800 37 39 750,000 248,300 750,000 1,000,000 345,800 40 1,000,000
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