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  3. in 2010 casey made a taxable gift of $6.8 million

In 2010 Casey made a taxable gift of $6.8 million to both Stephanie...

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Accounting

In 2010 Casey made a taxable gift of $6.8 million to both Stephanie and Linda (a total of $13.6 million in taxable gifts). Calculate the amount of gift tax due this year and Caseys unused exemption equivalent under the following alternatives. (Refer to Exhibit 25-1 and Exhibit 25-2.) c. This year Casey made a gift worth $16.8 million to Stephanie. Casey is married to Helen in a common-law state, and the 2010 gift was the only other taxable gift he or Helen has ever made. Casey and Helen elect to gift split.

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