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What amount related to the gift to the brother

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Reference no: EM132823235

Problem 1: Bernard made a gift of $500,000 to his brother in 2014. Due to Bernard's prior taxable gifts he paid $200,000 of gift tax. When Bernard died in 2021, the applicable gift tax credit had increased. At Bernard's death, what amount related to the $500,000 gift to his brother is included in his gross estate?

Option 1: $0
Option 2: $153,000
Option 3: $200,000
Option 4: $500,000

Reference no: EM132823235

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