Unified Estate and Gift Tax Question (2013)

  • Creator
    Topic
  • January 26, 2014 at 7:08 pm #183221
    rjman51
    Member

    I understand the 14,000 gift exclusion part, but I am confused with the difference of 2,045,800 unified estate and gift tax credit and the $5,250,000 nonexcluded gifts amount and how they are related to each other.

    So a person has the limit of 5,250,000 of excess amount of 14,000 gift throughout their lifetime without getting taxed, but what does the 2,045,800 amount do? (or am I totally wrong)

    If someone can help me that would be great!

    REG - February 2014 - 86
    BEC - April 2014 - 86
    AUD - May 2014 - 86
    FAR - August 2014 - 79

    DONE

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