Use IRC codes for your answer to communicate the gift tax liability for Brad and Angelina.

Brad and Angelina are a wealthy couple who have three children, Fred,

Bridget, and Lisa. Two of the three children, Fred and Bridget, are from

Brad's previous marriages. On Christmas this year Brad gave each of the

three children a cash gift of $$10,000$ and Angelina gave Lisa an additional

cash gift of $$40,000.$ Brad also gave stock worth $$40,000($adjusted basis of

$$10,000)$ to the Actor's Guild $($an $"A"$ charity$).$

Brad and Angelina have chosen to split gifts. Calculate Brad's gift

tax. Assume that Angelina has no previous taxable gifts, but Brad reported

previous taxable gifts of $$2$ million in $2009$ when he used $$345,800$ of

applicable credit and paid $$435,000$ of gift taxes.