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Susan makes a gift of assets with a fair market value of $750,000 to her daughter in 2011. She has made annual gifts of $20,000 cash in this and the last 6 years to her daughter as well as her two sons, and she paid the applicable gift tax on these annual gifts. Presuming no other taxable gifts and before applying the unified tax credit, which is the amount of the total of current and past taxable gifts?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9950303

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