Do Homework ichael Fazio Google Chrome Secure httpswwwmathx

Do Homework ichael Fazio - Google Chrome Secure https://www.mathxl.com/Student/PlayerHomework.aspx?homeworkId=459196263&questionld;=1&flushed-false;&cId;=4782637&centerwin;=yes ACCT 476 Prof Kamlet W18 Michael Fazio | 1/12/18 5:14 PM Homework: Chapter C:13 Homework Score: 0 of 1 pt PC:13-34 (similar to) Save 2 of 6 (0 complete) HW Score: 0%, 0 of 6 pts Question Help Odette died on May 3, 2017. On October 1, 2015, Odette gave her son Paul land valued at 7 270,000. Odette applied a unified credit of $2,117,800 agathe gift tax due on this transfer. On Odette\'s date of death the land was valued at 59.7 million Click the icon to view the unified transfer tax rates) Read the requirements Requirement a. With respect to this transaction, what amount was included in Odette\'s gross estate? With respect to this transaction Requirements was included in Odette\'s gross estate. a. With respect to this transaction, what amount was included in Odette\'s gross estate? b. What is the amount of Odette\'s adjusted taxable gifts attributable to the 2015 (Enter all amounts in dollars, not millions.) Amount of Annual Gift Print Done Period 2002-2005 2006-2008 2009-2012 2013 and after Exclusion per Donee S 11,000 S 12,000 13,000 14,000 Enter any number in the edit tields and then lear All Check Answer PrintDone 5:14 PM 1/12/2018 O Type here to search pa ^ 41)

Solution

1. Odette is liable to file estate tax, the amount included in gross estate is the Fair market value of estate I.e. 9.7$ million.

2. The adjusted taxable amount is

9.7$ million. (-) 2.1178$ million unified credit(-) exclusion per donee 0.014$ million= 7.568 $ million.