! Required information [The following information applies to the questions displayed below.) 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.) a. Roland's prior taxable gifts consist of a taxable gift of $1 million in 2005. Estate tax due - Required information (The following information applies to the questions displayed below.) 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.) 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 $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.) c. Roland made a $1 million taxable gift in the year prior to his death. Estate tax due EXHIBIT 25-1 Unified Transfer Tax Rates* Tax Base Equal to or Over Not Over Tentative Tax Plus of Amount Over $ $ 18% $ 20 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 0 1,800 3,800 8,200 13,000 18,200 23,800 38,800 70,800 155,800 248,300 345,800 22 24 26 28 30 32 34 37 39 40 0 10,000 20,000 40,000 60,000 80,000 100,000 150,000 250,000 500,000 750,000 1,000,000 *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 $ 500,000 $ 500,000 1987-1997 600,000 600,000 1998 625,000 625.000 1999 650,000 650,000 2000-2001 675,000 675,000 2002-2003 1,000,000 1,000,000 2004-2005 1,000,000 1,500,000 2006-2008 1,000,000 2,000,000 2009-2010* 1,000,000 3,500,000 2011 5,000,000 5.000.000 2012 5.120,000 5,120,000 2013 5,250,000 5.250,000 2014 5,340,000 5,340,000 2015 5,430,000 5,430,000 2016 5,450,000 5,450,000 2017 5.490,000 5.490,000 2018 11,180,000 11,180,000 *The applicable credit and exemption is zero for taxpayers who opt out of the estate tax in 2010
