Question

In 2021, Joshua gave $5,900 worth of XYZ stock to his son. In 2022, the XYZ shares are worth $26,100. What is the total amount removed from Joshua's estate in 2022 as a result of the gift in 2021? Option 1: $26,100 Option 2: $5,900 Option 3: $20,200 Option 4: $31,000

Answer 1

The total amount removed from Joshua's estate in 2022 as a result of the gift in 2021 is $20,200.

Step-by-step explanation:

To calculate the total amount removed from Joshua's estate, we need to find the difference in the value of the XYZ shares between 2022 and 2021.

In 2021, Joshua gave $5,900 worth of XYZ stock to his son. In 2022, the shares are worth $26,100.

Therefore, the total amount removed from Joshua's estate is $26,100 - $5,900 = $20,200.

There the correct option is Option 3: $20,200

Answer 2

The total amount removed from Joshua's estate in 2022 as a result of the gift in 2021 is Option 3) $20,200.

Step-by-step explanation:

To determine the total amount removed from Joshua's estate in 2022 as a result of the gift in 2021, we need to calculate the difference in value of the XYZ shares.

Given that Joshua gave $5,900 worth of XYZ stock in 2021 and the shares are currently worth $26,100 in 2022, we can subtract the initial value of the gift from the current value: $26,100 - $5,900 = $20,200.

Therefore, the total amount removed from Joshua's estate in 2022 as a result of the gift in 2021 is $20,200.