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Required informetion [The following information applies to the questions displayed below] In 2010 Casey made a taxable gift of $6.2 milion to both Stephanie and
Required informetion [The following information applies to the questions displayed below] In 2010 Casey made a taxable gift of $6.2 milion to both Stephanie and Linda (a total of \$12.4 miliion in taxable gifts) Calculate the amount of gint tax due this year and Casey's unused applicable credit under the following alternatives. (Refer to Lxibibit 251 and Exhibit 26.2) Note: Enter your answers in doliars, not mililons of doliars. Leave no answer blank. Enter zero if applicable. a. This year Casey made a taxable gift of $1 milion to Stephanie. Casey is not married, and the 2010 gift was the only other taxable gift he has ever made b. This year Casey made a taxable gift of $16.2 million to Stephanie. Casey is not married, and the 2010 gift was the only other taxable gift he has ever made. c. This year Casey made a gift worth $16.2 million to Stephanie. Casey marrled Helen last year, and they Iive in a common-law state. The 2010 gift was the only other taxable gift Casey or Helen has ever made. Casey and Helen elect to gitt-split this year. EXHIBIT 25-1 Unified Transfer Tax Rates* *The applicable credit and exemption are zero for estates that opted out of the estate tax in 2010. and exemption are zero for taxpayers who opt out of the estare tam im 3070
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