Sue died on May 3, 2016. On October 1, 2013, Sue gave Tom land valued at $7,014,000.

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Sue died on May 3, 2016. On October 1, 2013, Sue gave Tom land valued at $7,014,000. Sue applied a unified credit of $2,045,800 against the gift tax due on this transfer. On Sue's date of death the land was valued at $9.4 million.

a. With respect to this transaction, what amount was included in Sue's gross estate?

b. What is the amount of Sue's adjusted taxable gifts attributable to the 2013 gift?

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Federal Taxation 2017 Comprehensive

ISBN: 9780134421438

30th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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Question Posted: Sep 05, 2016 10:19 AM

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Sue died on May 3, 2016. On October 1, 2013, Sue gave Tom land valued at $7,014,000.

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a Inclusion in gross estate under grossup rule 2745800 ...View the full answer

Federal Taxation 2017 Comprehensive

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