Question
Your client and her husband agreed to split the following lifetime cash gifts: Total Gifts to Son Total Gifts to Daughter 2014 $90,000 $70,000 2021
Your client and her husband agreed to split the following lifetime cash gifts:
| Total Gifts to Son | Total Gifts to Daughter | |
|---|---|---|
| 2014 | $90,000 | $70,000 |
| 2021 | $80,000 | $100,000 |
How much of your client's applicable credit is used by the 2021 gifts only? Use the Unified Federal Estate and Gift Tax Rates table.
A) $16,320
B) $24,400
C) $58,800
D) $11,080
Step by Step Solution
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Step: 1
Option C is correct 58800 If youre fortunate sufficient and ...
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Legal Research Analysis and Writing
Authors: William H. Putman, Jennifer Albright
3rd edition
9781285415086, 1133591906, 1285415086, 978-1133591900
