McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

Exercise 61

Roland had a taxable estate of $5. million when he died this year.Calculate the amount of estate tax due (if any) under the following alternatives.a.Roland's prior taxable gifts consist of a taxable gift of $1 million in 2005.b.Roland's prior taxable gifts consist of a taxable gift of $1. million in 2005.c.Roland's prior taxable gifts consist of a taxable gift of $2 million made in 2008 (within three years of his death).