Required information [The following information applies to the questions displayed below.) Roland had a taxable estate of $15.8 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 b. Roland's prior taxable gifts consist of a taxable gift of $1.5 million in 2005. Estate tax due 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 $ 0 $10,000 $ 0 18% $ 0 10,000 1.800 20 10,000 20,000 40,000 20,000 3,800 22 20,000 40,000 60,000 8,200 24 40,000 60,000 80,000 26 60,000 80,000 100,000 28 80,000 100,000 150,000 13,000 18,200 23,800 38,800 70,800 30 150,000 250,000 32 34 250,000 500,000 750,000 500,000 750,000 100,000 150,000 250,000 500,000 750,000 155,800 37 1,000,000 248,300 39 1,000,000 345.800 40 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 Estate Tax Year of Transfer 1986 Gift Tax $500,000 600,000 $500,000 19871997 1998 600,000 625,000 650,000 1999 2000-2001 675,000 20022003 2004-2005 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 20062008 20092010* 2011 2012 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 2013 2014 5,340,000 2015 2016 5,430,000 5,450,000 5,490,000 2017 2018 11,180,000 11,400,000 2019 11,400,000 *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.) Roland had a taxable estate of $15.8 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 b. Roland's prior taxable gifts consist of a taxable gift of $1.5 million in 2005. Estate tax due 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 $ 0 $10,000 $ 0 18% $ 0 10,000 1.800 20 10,000 20,000 40,000 20,000 3,800 22 20,000 40,000 60,000 8,200 24 40,000 60,000 80,000 26 60,000 80,000 100,000 28 80,000 100,000 150,000 13,000 18,200 23,800 38,800 70,800 30 150,000 250,000 32 34 250,000 500,000 750,000 500,000 750,000 100,000 150,000 250,000 500,000 750,000 155,800 37 1,000,000 248,300 39 1,000,000 345.800 40 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 Estate Tax Year of Transfer 1986 Gift Tax $500,000 600,000 $500,000 19871997 1998 600,000 625,000 650,000 1999 2000-2001 675,000 20022003 2004-2005 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 20062008 20092010* 2011 2012 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 2013 2014 5,340,000 2015 2016 5,430,000 5,450,000 5,490,000 2017 2018 11,180,000 11,400,000 2019 11,400,000 *The applicable credit and exemption is zero for taxpayers who opt out of the estate tax in 2010