! Required information [The following information applies to the questions displayed below.] In 2010 Casey made a taxable gift of $6.0 million to both Stephanie and Linda (a total of $12.0 million in taxable gifts). Calculate the amount of gift tax due this year and Casey's unused exemption equivalent under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars, not millions of dollars. Leave no answer blank. Enter zero if applicable.) a. This year Casey made a taxable gift of $1 million to Stephanie. Casey is not married, and the 2010 gift was the only other taxable gift he has ever made. $ 0 Gift tax due Un exemp equivalent EXHIBIT 25-1 Unified Transfer Tax Rates Not Over Plus of Amount Over 18% 20 22 24 26 Tax Base Equal to or Over S 0 10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500.000 750,000 1,000,000 $10,000 20.000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 1,000,000 Tentative Tax $ 0 1,800 3,800 8,200 13,000 18,200 23,800 38,800 70,800 155,800 248,300 345,800 28 $ 0 10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 1,000,000 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 Year of Transfer Gift Tax Estate Tax 1986 1987-1997 1998 1999 2000-2001 2002-2003 2004-2005 2006-2008 2009-2010* 2011 $500,000 600,000 625,000 650,000 675,000 1,000,000 1,000,000 1,000,000 1,000,000 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 $500,000 600,000 625.000 650,000 675,000 1,000,000 1,500,000 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 2012 2013 2014 2015 2016 2017 2018 2019 *The applicable credit and exemption is zero for taxpayers who opt out of the CH Required information [The following information applies to the questions displayed below.) In 2010 Casey made a taxable gift of $6.0 million to both Stephanie and Linda (a total of $12.0 million in taxable gifts). Calculate the amount of gift tax due this year and Casey's unused exemption equivalent under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars, not millions of dollars. Leave no answer blank. Enter zero if applicable.) b. This year Casey made a taxable gift of $16.0 million to Stephanie. Casey is not married, and the 2010 gift was the only other taxable gift he has ever made. es Gift tax due Unused exemption equivalent S 0 Required information [The following information applies to the questions displayed below.] In 2010 Casey made a taxable gift of $6.0 million to both Stephanie and Linda (a total of $12.0 million in taxable gifts). Calculate the amount of gift tax due this year and Casey's unused exemption equivalent under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars, not millions of dollars. Leave no answer blank. Enter zero if applicable.) c. This year Casey made a gift worth $16.0 million to Stephanie. Casey is married to Helen in a common-law state, and the 2010 gift was the only other taxable gift he or Helen has ever made. Casey and Helen elect to gift split. $ 0 Casey's gift tax due Casey's unused exemption equivalent Helen's gift tax due Helen's unused exemption equivalent $ 0 ! Required information [The following information applies to the questions displayed below.] In 2010 Casey made a taxable gift of $6.0 million to both Stephanie and Linda (a total of $12.0 million in taxable gifts). Calculate the amount of gift tax due this year and Casey's unused exemption equivalent under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars, not millions of dollars. Leave no answer blank. Enter zero if applicable.) a. This year Casey made a taxable gift of $1 million to Stephanie. Casey is not married, and the 2010 gift was the only other taxable gift he has ever made. $ 0 Gift tax due Un exemp equivalent EXHIBIT 25-1 Unified Transfer Tax Rates Not Over Plus of Amount Over 18% 20 22 24 26 Tax Base Equal to or Over S 0 10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500.000 750,000 1,000,000 $10,000 20.000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 1,000,000 Tentative Tax $ 0 1,800 3,800 8,200 13,000 18,200 23,800 38,800 70,800 155,800 248,300 345,800 28 $ 0 10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 1,000,000 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 Year of Transfer Gift Tax Estate Tax 1986 1987-1997 1998 1999 2000-2001 2002-2003 2004-2005 2006-2008 2009-2010* 2011 $500,000 600,000 625,000 650,000 675,000 1,000,000 1,000,000 1,000,000 1,000,000 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 $500,000 600,000 625.000 650,000 675,000 1,000,000 1,500,000 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 2012 2013 2014 2015 2016 2017 2018 2019 *The applicable credit and exemption is zero for taxpayers who opt out of the CH Required information [The following information applies to the questions displayed below.) In 2010 Casey made a taxable gift of $6.0 million to both Stephanie and Linda (a total of $12.0 million in taxable gifts). Calculate the amount of gift tax due this year and Casey's unused exemption equivalent under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars, not millions of dollars. Leave no answer blank. Enter zero if applicable.) b. This year Casey made a taxable gift of $16.0 million to Stephanie. Casey is not married, and the 2010 gift was the only other taxable gift he has ever made. es Gift tax due Unused exemption equivalent S 0 Required information [The following information applies to the questions displayed below.] In 2010 Casey made a taxable gift of $6.0 million to both Stephanie and Linda (a total of $12.0 million in taxable gifts). Calculate the amount of gift tax due this year and Casey's unused exemption equivalent under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) (Enter your answers in dollars, not millions of dollars. Leave no answer blank. Enter zero if applicable.) c. This year Casey made a gift worth $16.0 million to Stephanie. Casey is married to Helen in a common-law state, and the 2010 gift was the only other taxable gift he or Helen has ever made. Casey and Helen elect to gift split. $ 0 Casey's gift tax due Casey's unused exemption equivalent Helen's gift tax due Helen's unused exemption equivalent $ 0