Final answer:
The total amount removed from Joshua's estate due to the gift made in 2021 is $15,000, which is the value of the gift at the time it was given.
Step-by-step explanation:
The total amount removed from Joshua's estate in 2022 as a result of the gift in 2021 would be the value of the gift at the time it was given, not its current value. Hence, for determining the reduction in Joshua's estate, we would consider the value of the XYZ stock at the time of the gift, which was $15,000 in 2021. The increase in value to $25,000 in 2022 occurs while the stock is already in the possession of Joshua's son, which means it does not affect the value removed from Joshua's estate.
When answering questions related to the value of gifts and their impact on an estate, it is crucial to remember that it is the value at the time of the transfer that is relevant for estate calculations. Therefore, in this scenario, Joshua's estate is reduced by only the original gift amount.