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Calculate the amount of estate tax

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Reference no: EM131867244

Question - Roland had a taxable estate of $5.5 million when he died this year. (Reference the 2012 tax rate schedule in Exhibit 25-1 and the Unified Credit schedule in Exhibit 25-5 to answer this problem. Omit the "$" sign in your response).

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 $1.5 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).

Reference no: EM131867244

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