Question
Using property she inherited, Myrna makes a 2019 gift of $16,200,000 to her adult daughter, Doris. Neither Myrna nor her husband, Greg, have made any
Using property she inherited, Myrna makes a 2019 gift of $16,200,000 to her adult daughter, Doris. Neither Myrna nor her husband, Greg, have made any prior taxable gifts.
Assuming that a flat 40% tax rate applies.
The unified transfer credit exclusion for 2019 is $11,400,000.
What is the gift tax due if there is no split made?
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Cost Management
Authors: Don R Hansen, Maryanne M Mowen, Dan L Heitger
5th Edition
357141091, 978-0357141090
