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Martha inherits unimproved land (fair market value of $3 million) from her father on June 1,2008.Martha disclaims her interest in the property as follows: one-third on December 1,2008;one-third on January 1,2009;and the remaining one-third on May 31,2009.In all cases,the disclaimers pass the interest to her son (the next heir under state law) .The Federal gift tax applies to Martha for:
Heat Lost
The amount of heat energy that escapes or is unintentionally transferred from a system to its surroundings.
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A liquid that can ignite easily or catch fire at temperatures at or above room temperature.
Gas Chromatograph
An analytical machine used for separating and analyzing compounds that can be vaporized without decomposition, typically used in chemical analysis.
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