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.

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.

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter18: The Federal Gift And Estate Taxes

Section: Chapter Questions

Problem 25CE

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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 $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

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