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Business, 19.12.2019 03:31 tommyaberman
Brad and angelina are a wealthy couple who have three children, fred, bridget, and lisa. two of the three children, fred and bridget, are from brad’s previous marriages. on christmas this year, brad gave each of the three children a cash gift of $6,500, and angelina gave lisa an additional cash gift of $41,000. brad also gave stock worth $54,000 (adjusted basis of $13,500) to the actor’s guild (an "a" charity).
(leave no answer blank. enter zero if applicable.)
a. brad and angelina have chosen to split gifts. calculate brad’s gift tax. assume that angelina has no previous taxable gifts, but brad reported previous taxable gifts of $2 million in 2009 when he used $345,800 of unified credit and paid $435,000 of gift taxes. (reference the tax rate schedule in exhibit 25-1 and the unified credit schedule in exhibit 25-2 to answer this problem.)
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Brad and angelina are a wealthy couple who have three children, fred, bridget, and lisa. two of the...
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