Gabriel had a taxable estate of $6 million when he died in 2016. Calculate the amount of estate tax due (if any) if Gabriel made prior taxable gifts in 2005 totaling $1 million at which time he claimed a unified credit of $1 million and paid no tax. Gabriel was unmarried at his death.

Question

Quizplus · Accepted Answer

The Answer of Gabriel had a taxable estate of $6 million when he died in 2016. Calculate the amount of estate tax due (if any) if Gabriel made prior taxable gifts in 2005 totaling $1 million at which time he claimed a unified credit of $1 million and paid no tax. Gabriel was unmarried at his death.

Gabriel Had a Taxable Estate of $6 Million When He