At his death in 2014 Nathan owned the following property: $\begin{array}{lr}
\underline{\text { Description }} & {\underline{\text { Value }}} \
\text { Real estate } & \$ 5,000,000 \
\text { Cash, stock, and bonds } & 10,500,000 \
\text { Personal property } & 200,000
\end{array}$ The real estate is subject to a $1,700,000 mortgage and Nathan made taxable gifts in 2009 totaling $2 million at which time he offset the gift tax with a unified credit (exemption equivalent of $2 million). Nathan has never been married. What is the amount of his estate tax due?

Question

Quizplus · Accepted Answer

The Answer of At his death in 2014 Nathan owned the following property: $\begin{array}{lr}
\underline{\text { Description }} & {\underline{\text { Value }}} \
\text { Real estate } & \$ 5,000,000 \
\text { Cash, stock, and bonds } & 10,500,000 \
\text { Personal property } & 200,000
\end{array}$ The real estate is subject to a $1,700,000 mortgage and Nathan made taxable gifts in 2009 totaling $2 million at which time he offset the gift tax with a unified credit (exemption equivalent of $2 million). Nathan has never been married. What is the amount of his estate tax due?

At His Death in 2014 Nathan Owned the Following Property