Problem
Your client and her husband agreed to split the following lifetime cash gifts:
|
|
Total Gifts to Son
|
Total Gifts to Daughter
|
|
2014
|
$90,000
|
$70,000
|
|
2022
|
$82,000
|
$102,000
|
How much of your client's applicable credit is used by the 2022 gifts only? Use the Unified Federal Estate and Gift Tax Rates table.