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{"sheet":"Introduction","index":0,"n_rows":14,"n_cols":6,"rows_kept":14,"cut":false,"hidden":false,"merged":[[1,1,1,10],[2,1,2,10]]}
[]
[null,"Calculating Estate Taxes LT40"]
[null,"Personal Finance: Another Perspective"]
[null,null,null,null,null,"2019-03-12"]
[null,"Purpose:"]
[null,"The purpose of this spreadsheet is to give some input into calculating your estate taxes.  There is separate information"]
[null,"by year, so you need to input the required information."]
[]
[]
[null,"Disclosure:"]
[null,"The purpose of this spreadsheet and this class is to help you get your financial house in order and to help you"]
[null,"on your road to financial self-reliance.  If there are mistakes in this  spreadsheet, please bring them to our "]
[null,"attention and we will correct them in upcoming versions.  The teacher, and BYU, specifically disclaim any"]
[null,"liability or responsibility for claims, loss, or risk incurred, directly or indirectly, from using this material."]

{"sheet":"Estate Taxes","index":1,"n_rows":36,"n_cols":21,"rows_kept":36,"cut":false,"hidden":false,"merged":[[1,2,1,10],[2,2,2,10],[4,2,4,10],[5,2,5,10]]}
[]
[null,null,{"$f":"\"Calculating Your Estate Taxes (LT40)\"","v":"Calculating Your Estate Taxes (LT40)"}]
[null,null,{"$f":"\"For the Tax Year  \"&E9","v":"For the Tax Year  2019"}]
[]
[null,null,"                                               This Tool is to help you calculate your Gross Estate, Taxable Estate, "]
[null,null,"                                                    Taxable Estate, and It uses updated information for each year."]
[]
[]
[null,null,null,"Year at Death",2019,null,"Total Excess of Annual Limits",null,null,{"$f":"SUM(J13:J22)","v":8000}]
[]
[null,null,null,"Key Data:",null,null,"Year","Amount","Exclusion","Excess",null,null,null,null,null,null,"Annual Estate Tax Limits"]
[null,null,null,"Value of Assets at Death",10500000,null,null,null,null,null,null,null,null,null,null,null,"Year","Limit","Exclusion","Rate","Tax"]
[null,null,null,"Life Insurance Policies",25000,null,{"$f":"G14-1","v":2011},null,{"$f":"VLOOKUP(G13,Limits,2)","v":13000},{"$f":"IF(H13>I13,H13-I13,0)","v":0},null,null,null,null,null,null,2010,13000,null,0,{"$f":"S13*T13","v":0}]
[null,null,null,"Insurance Death Benefit",null,null,2012,20000,13000,7000,null,null,null,null,null,null,2011,13000,5000000,0.35,1750000]
[null,null,null,"Funeral costs",15000,null,2013,15000,14000,1000,null,null,null,null,null,null,{"$f":"Q14+1","v":2012},13000,5120000,0.35,1792000]
[null,null,null,"Estate Administrative Costs",5800,null,2014,null,14000,0,null,null,null,null,null,null,{"$f":"Q15+1","v":2013},14000,5250000,0.4,2100000]
[null,null,null,"Charities",null,null,2015,null,14000,0,null,null,null,null,null,null,2014,14000,5340000,0.4,2136000]
[null,null,null,"Note: Irrevocable Trusts (ILITS) are not included",null,null,2016,null,14000,0,null,null,null,null,null,null,2015,14000,5430000,0.4,2172000]
[null,null,null,null,null,null,2017,8000,14000,0,null,null,null,null,null,null,2016,14000,5450000,0.4,2180000]
[null,null,null,"I. Detrmine your Gross Estate:",null,null,2018,null,15000,0,null,null,null,null,null,null,2017,14000,5490000,0.4,2196000]
[null,null,null,"Assets",{"$f":"E12","v":10500000},null,{"$f":"E9","v":2019},null,15000,0,null,null,null,null,null,null,2018,15000,11180000,0.4,{"$f":"S21*T21","v":4472000}]
[null,null,null,"Life insurance (not in an ILIT)",{"$f":"E13","v":25000},null,null,null,null,null,null,null,null,null,null,null,2019,15000,11400000,0.4,{"$f":"S22*T22","v":4560000}]
[null,null,null,"Insurance Death Benefits",{"$f":"E14","v":0}]
[null,null,null,"Gross Estate",{"$f":"E21+E22+E23","v":10525000},null,{"$f":"E9&\" Estate Tax Information\"","v":"2019 Estate Tax Information"}]
[null,null,null,null,null,null,"Annual Exclusion",null,null,{"$f":"VLOOKUP($E$9,Limits,2)","v":15000}]
[null,null,null,"II. Calculate your Taxable Estate",null,null,"Estate Tax Tax-Free Exclusion",null,null,{"$f":"VLOOKUP($E$9,Limits,3,FALSE)","v":11400000}]
[null,null,null,"Gross Estate",{"$f":"E24","v":10525000},null,"Tax Rate on on Excess",null,null,{"$f":"VLOOKUP($E$9,Limits,4,FALSE)","v":0.4}]
[null,null,null,"Funeral expenses",{"$f":"E15","v":15000}]
[null,null,null,"Administrative expenses",{"$f":"E16","v":5800}]
[null,null,null,"Charitable deductions",{"$f":"E17","v":0}]
[null,null,null,"Taxable Estate",{"$f":"E27-E28-E29-E30","v":10504200},null,"IV. Calculate your Estate Tax Liability"]
[null,null,null,null,null,null,"Gift-Adjusted Taxable Estate",null,null,{"$f":"E36","v":10512200}]
[null,null,null,"III. Determine your Gift-Adjusted Taxable Estate",null,null,{"$f":"E9&\" Unified Credit Amount\"","v":"2019 Unified Credit Amount"},null,null,{"$f":"IF($J$32=0,0,VLOOKUP($E$9,Limits,3,FALSE))","v":11400000}]
[null,null,null,"Taxable Estate",{"$f":"E31","v":10504200},null,"Excess (if <= 0, no tax liability)",null,null,{"$f":"IF($J$32=0,0,J32-J33)","v":-887800}]
[null,null,null,"Gifts in Excess",{"$f":"J9","v":8000},null,"Tax Rate on Excess",null,null,{"$f":"IF($J$32=0,0,VLOOKUP($E$9,Limits,4,FALSE))","v":0.4}]
[null,null,null,"Gift-Adjusted Taxable Estate",{"$f":"E34+E35","v":10512200},null,"Estate Tax Liability",null,null,{"$f":"IF(J34<0,0,J34*J35)","v":0}]