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Required information The following information applies to the questions displayed below. n 2010 Casey made a taxable gift of $7.0 million to both Stephanie and
Required information The following information applies to the questions displayed below. n 2010 Casey made a taxable gift of $7.0 million to both Stephanie and Linda (a total of $14.000 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.) a. This year Casey made a taxable gift of $1.00 million to Stephanie. Casey is not married, and the 2010 gift was the only other taxable gift he has ever made. (Leave no answer blank. Enter zero if applicable. Enter your answers in dollars, not millions of dollars.) Gift tax due Unused exemption equivalent
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