(Solution) - Sue died on May 3 2014 On October 1 2011 -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Pages: 5 Words: 1375

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Sue died on May 3, 2014. On October 1, 2011, Sue gave Tom land valued at $7,013,000. Sue applied a unified credit of $1,730,800 against the gift tax due on this transfer. On Sue's date of death the land was valued at $9.4 million.
a. With respect to this transaction, what amount was included in Sue's gross estate?
b. What is the amount of Sue's adjusted taxable gifts attributable to the 2011 gift?