In each of the following independent situations, determine the gift tax that was due and the decedent’s final estate tax liability (net of any unified tax credit).
|
Decedent |
|||
|
Joseph |
Brandi |
Caden |
|
|
Year of death |
2002 |
2005 |
2012 |
|
Taxable estate |
$1,000,000 |
$1,800,000 |
$1,500,000 |
|
Post 1976 taxable gifts— |
|
|
|
|
Made in 2001 |
800,000 |
— |
— |
|
Made in 2002 |
— |
900,000 |
— |
|
Made in 2011 |
— |
— |
5,300,000 |