Cumulative taxable transfers 11493600 Tax on cumulative transfers 5052920 Gift

Cumulative taxable transfers 11493600 tax on

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Cumulative taxable transfers $ 11,493,600 Tax on cumulative transfers $ 5,052,920 Gift taxes paid - 0 Tax on taxable estate $ 5,052,920 Unified credit in 2010 - 1,455,800 Estimated estate tax due in 2010 $ 3,597,120 c. Montgomery’s estate would owe $2,472,120 if he dies in 2010 calculated as follows: Gross estate $ 10,493,600 Charitable deduction - 2,500,000 Taxable estate $ 7,993,600 Adjusted taxable gifts + 1,000,000 Cumulative taxable transfers $ 8,993,600 Tax on cumulative transfers $ 3,927,920 Gift taxes paid - 0 Tax on taxable estate $ 3,927,920 Unified credit in 2010 - 1,455,800 Estimated estate tax due in 2010 $ 2,472,120 14-23

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