Explain how is the gift reported on the estate tax return

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Reference no: EM13129800

On his deathbed, Chester Chubb gave his live-in maid $1,213,000 of listed bonds, incurring a gift tax liability of $90,000. After Chester expired, the executor of his will fi led a gift tax return and remitted the gift tax to the IRS.

(a.) How is the gift reported on the estate tax return?

(b.) How is the gift tax reported on Form 706?

Reference no: EM13129800

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Explain how is the gift reported on the estate tax return : On his deathbed, Chester Chubb gave his live-in maid $1,213,000 of listed bonds, incurring a gift tax liability of $90,000. After Chester expired, the executor of his will fi led a gift tax return and remitted the gift tax to the IRS. Explain how..

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