In 2014, the unified credit exempted an estate of how much from tax?

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Multiple Choice

In 2014, the unified credit exempted an estate of how much from tax?

Explanation:
The thing being tested is the unified credit, which determines how much of an estate can pass without federal estate tax. In 2014 that exclusion amount was $5,340,000, meaning an individual could transfer that amount (or less) free of federal estate tax. Any value above that would be subject to tax, with the credit reducing the tax owed on the amount over the exclusion. The other numbers aren’t the 2014 exclusion, so they don’t reflect the amount exempt from tax for that year.

The thing being tested is the unified credit, which determines how much of an estate can pass without federal estate tax. In 2014 that exclusion amount was $5,340,000, meaning an individual could transfer that amount (or less) free of federal estate tax. Any value above that would be subject to tax, with the credit reducing the tax owed on the amount over the exclusion. The other numbers aren’t the 2014 exclusion, so they don’t reflect the amount exempt from tax for that year.

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