An exemption equivalent is the amount of annual gifts that is automatically exempt from the gift tax.
The amount of cumulative taxable transfers a person can make without exceeding the unified credit is the exemption equivalent.

Question

Quizplus · Accepted Answer

The Answer of An exemption equivalent is the amount of annual gifts that is automatically exempt from the gift tax.
The amount of cumulative taxable transfers a person can make without exceeding the unified credit is the exemption equivalent.

An Exemption Equivalent Is the Amount of Annual Gifts That