In determining the Federal estate tax on a 2019 estate, the taxpayer will:

a. Claim a credit only for the gift taxes actually paid for gifts made in years after 1976.

b. Disregard taxable gifts made before 1977.

c. Include only prior taxable gifts on which tax was actually paid.

d. Claim a credit for the gift taxes actually or deemed paid for all prior years.

e. Both (a) and (b) are correct.

Expert Solution

Answer is -

e. Both (a) and (b) are correct.

In determining the Federal estate tax on a 2019 estate, the taxpayer will Claim a credit only for the gift taxes actually paid for gifts made in years after 1976 and Disregard taxable gifts made before 1977.

ekkarill92 answered 2 years ago

what is the federal gift and estate tax exemption for 319?

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