Net Gift 400,000/2 200,000.00 200,000.00 Exemption 250,000.00 250,000.00 Taxable Gift (50,000.00) (50,000.00)
Net Gift this month 500,000.00
Add Net Gift 5/3 200,000.00 Total 700,000.00 Exemption 250,000.00 Taxable Gift 450,000.00 Tax rate 6% Tax Due 27,000.00
Net Gift this month 400,000.00
Add Net Gift 5/3 200,000.00 Total 600,000.00 Exemption 250,000.00 Taxable Gift 350,000.00 Tax rate 6% Tax Due 21,000.00
Net Gift this month 400,000.00
Add Net Gift 5/3 200,000.00 Net Gift this 7/14 500,000.00 Total 1,100,000.00 Exemption 250,000.00 Taxable Gift 850,000.00 Tax rate 6% Tax Due 51,000.00 Tax paid 27,000.00 Tax payable 24,000.00