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Using Excel, prepare your answer. Figure Ginger's gift tax. In March 2 0 2 1 , Ginger Graham, age 4 6 and wife of Greg
Using Excel, prepare your answer. Figure Ginger's gift tax.In March Ginger Graham, age and wife of Greg Graham, engaged in the transactions described below.Determine Gingers gift tax liability for if she and Greg elect gift splitting and Greg gave their son Stevie stock valued at $ during Gingers grandmother Mamie died on November and Mamies will be bequeathed $ to Ginger.On March Ginger irrevocably disclaimed the $ in writing, and, as a result, the property passed instead to Gingers sister Gertie.In Ginger gave $ cash to her alma mater, State University.In Ginger gave ownership of a life insurance policy on her own life to her daughter, Denise, and in Ginger paid the $ annual premium on the policy.In Ginger deposited $ into a bank account in the name of herself and son Stevie, joint tenants with rights of survivorship. Stevie deposited nothing. Neither party made a withdrawal until when Stevie withdrew $In January Ginger created a trust with County Bank as trustee and transferred $ of stock to the irrevocable trust. She named her husband Greg age to receive all the trust income semiannually for life and daughter Drucilla to receive the remainder.In she gave a remainder interest in her beach cottage to the American Red Cross and kept the right to use the cottage rent free for the rest of her life. The fair market value of the cottage was $Other information: Gingers earlier taxable gifts are $ all made in Ginger will make whatever elections are necessary to minimize her current gift tax liability. Assume the Sec. interest rate is
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