Audrey made taxable gifts of cash in 2005 and 2008 and paid a gift tax for each transfer.If she dies in 2009,only the gift tax on the 2008 gift is included in her gross estate.

Name: Audrey made taxable gifts of cash in 2005 and 2008 and paid a gift tax for each transfer.If she dies in 2009,only the gift tax on the 2008 gift is included in her gross estate.
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Question

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The gift tax paid on the 2005 gift is not included in Audrey's gross estate because it was paid more than three years before her death.

Audrey Made Taxable Gifts of Cash in 2005 and 2008