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- May 16, 2016
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looking for clarifications on estate tax return. Understand the 3 year Lookback rule to include gifts made. But does that include gifts made that are less than the annual limits? Specifically parents made gifts of the annual limit the past 5 years to each of their 3 children and their spouses. I believe I do NOT need to add them back into the estate value for estate tax computation. Right?
All live in New Jersey
Thanks!
All live in New Jersey
Thanks!