Question

In 2016, Joshua gave $12,500 worth of XYZ stock to his son. In 2017, the XYZ shares are worth $25,000. What is the total amount removed from Joshua’s estate in 2017?

Answer 1

Answer:

$12,500

Explanation:

Calculation for the total amount removed from Joshua’s estate in 2017

Since we were told that In 2016, Joshua gave the amount of $12,500 to his son in which in the same year which was 2017, the XYZ shares are worth the amount of $25,000 which means that the total amount removed from Joshua’s estate in 2017 will be $12,500 ($25,000-$12,500).