What amount was reportable as adjusted taxable gifts

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Reference no: EM131965561

Question: In December 2010, Jody transferred stock having a $1,113,000 FMV to her daughter Joan. Jody paid $35,000 of gift taxes on this transfer. When Jody died in January 2013, the stock was valued at $920,000. Jody made no other gifts during her lifetime. With respect to this gift transaction, what amount was includible in Jody's gross estate, and what amount was reportable as adjusted taxable gifts?

Reference no: EM131965561

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