Joe makes a gift of assets with a fair market value of

Reference no: EM13572721

Joe makes a gift of assets with a fair market value of $400,000 to his sister in 2009. He has made annual gifts of $50,000 cash for this and the last 4 years to her as well as his brother, and he 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?

Reference no: EM13572721

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