Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. we know the applicable exclusion amount (aea) mean

We know the applicable exclusion amount (AEA) means the amount that can pass estate or...

60.1K

Verified Solution

Question

Accounting

We know the applicable exclusion amount (AEA) means the amount that can pass estate or gift tax free. We also know that the amount for 2021 is $11,700,000. Yet nowhere in the calculation of either the estate or the gift tax is the AEA subtracted. Describe how the unified credit is the real source of the tax shelter and how any given unified credit relates to the AEA.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Reliance Industries Ltd. Strategic Alternatives AnalysisStrategic Alternatives MatrixReliance Industries Ltd. Strategic AlternativesMatrix                 &nReliance Industries Ltd....

Accounting
Q

Explain the prep phase, action phase, and follow-through phase for a squat in detail.

Medical Sciences
Q

A student reacts 58g of salicylic acid with 10 mL of acetic anhydride producing 3.3g of...

Chemistry
Q

Agile Manifesto has Twelve principles and Four Values. Outline three Principles or Values and show how...

Programming
Q

Q1. If we decide to use two pairs of base-limit registers (one for Instructions, one for data),...

Programming
Q

The state of strain at the point on the spanner wrench has components εx = 260(10-6), εy...

Physics
Q

Listen Carbon dioxide is split to form oxygen gas and carbon compounds in which of...

Biology
Q

A boy is pushing a ring of mass 2 kg and radius 0 5 m...

Physics
Q

Bonita Industries had 490 units of "Dink" in its inventory at a cost of $5...

Accounting
Q

pls help me In December 2016. Custom Mfg....

Accounting
Q

In 2021, Agnes recognized a $45,000 gain on the sale of Section 1231 property. Over...

Accounting
Q

A company has bonds outstanding with a par value of $190,000. The unamortized premium on...

Accounting