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Tom Hruise was an entertainment executive who had a fatal accident on a film set. Toms will directed his executor to distribute his cash and

Tom Hruise was an entertainment executive who had a fatal accident on a film set. Toms will directed his executor to distribute his cash and stock to his wife, Kaffie, and the real estate to his church, The First Church of Methodology. The remainder of his assets were to be placed in trust for his three children. Toms estate consisted of the following:

Assets:
Personal assets $ 1,450,000
Cash and stock 25,500,000
Intangible assets (film rights) 79,000,000
Real estate 16,500,000
$ 122,450,000
Liabilities:
Mortgage $ 4,700,000
Other liabilities 5,600,000
$ 10,300,000

a. Tom made a taxable gift of $6.60 million in 2011. Compute the estate tax for Toms estate. (Refer to Exhibit 25-1 and Exhibit 25-2.)

(Enter your answers in dollars, not millions of dollars.)

Gross estate $122,450,000
Marital Deduction 25,500,000
Charitable Deduction 16,500,000
Debts 10,300,000
Taxable Estate $70,150,000
Adjusted taxable gifts 6,600,000
Cumulative taxable transfers $76,750,000
Tax on cumulative transfers
Current tax on adjusted taxable gifts 640,000
Tentative estate tax
Applicable credit
Estate Tax Due

I only need the 4 which are empty pls

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 20,000 1,800 20 10,000
20,000 40,000 3,800 22 20,000
40,000 60,000 8,200 24 40,000
60,000 80,000 13,000 26 60,000
80,000 100,000 18,200 28 80,000
100,000 150,000 23,800 30 100,000
150,000 250,000 38,800 32 150,000
250,000 500,000 70,800 34 250,000
500,000 750,000 155,800 37 500,000
750,000 1,000,000 248,300 39 750,000
1,000,000 345,800 40 1,000,000

*The applicable credit and exemption are 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
19871997 600,000 600,000
1998 625,000 625,000
1999 650,000 650,000
20002001 675,000 675,000
20022003 1,000,000 1,000,000
20042005 1,000,000 1,500,000
20062008 1,000,000 2,000,000
20092010* 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
2019 11,400,000 11,400,000
2020 11,580,000 11,580,000
2021 11,700,000 11,700,000

*The applicable credit and exemption are zero for taxpayers who opt out of the estate tax in 2010.

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