Marilynn died on May 3, 2013. On October 1, 2010, Marilynn gave Dan land valued at $2,450,000. Marilynn applied a unified credit of $330,800 against.
Marilynn died on May 3, 2013. On October 1, 2010, Marilynn gave Dan land valued at $2,450,000. Marilynn applied a unified credit of $330,800 against the gift tax due on this transfer. On Marilynn’s date of death the land was valued at $2.8 million.
Amount of Annual Gift
Period
Exclusion per Donee
2002-2005
$11,000
2006-2008
$12,000
2009-2012
$13,000
2013
$14,000
a. With respect to this transaction, what amount was included in Marilynn’s gross estate?
b. What is the amount of Marilynn’s adjusted taxable gifts attributable to the 2010 gift?
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