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Stacey inherits unimproved land (fair market value of $6 million) from her father on June 1,2014.Stacey disclaims her interest in the property as follows: one-third on December 1,2014;one-third on January 3,2015;and the remaining one-third on May 31,2015.In all cases,the disclaimers pass the interest to her son (the next heir under state law) .The Federal gift tax applies to Stacey for:
Hybrid Costing System
A costing methodology that combines features of both job-order and process costing systems, suitable for businesses producing both unique and standard products.
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