1. In 2010, you gave $13,000 worth of stock to your best friend. In 2016, the stock is valued at $25,000. a. What was the gift tax in 2010?
b. What is the total amount removed from your estate in 2016?
c. What will be the gift tax in 2016?
2. On December 31, 2009, George gives $13,000 to his son and $13,000 to his son’s wife. On January 1, 2010, George gives another $13,000 to his son and another $13,000 to his son’s wife. George made no other gifts to his son and his son ’s wife in 2009 and 2010. What is the gift tax?
