Gift tax formula and the estate tax formula


Task: Completely answer the following questions

Question 1: Identify the features common to the gift tax formula and the estate tax formula.

Question 2: Explain why Congress felt it necessary to enact a gift tax to complement the estate tax.

Question 3: Describe the unified credit and the purpose it serves in the gift and estate tax.

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Accounting Basics: Gift tax formula and the estate tax formula
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