Question - Calculation of Gift Tax. In 2010, Sondra makes taxable gifts aggregating $300,000. her only other taxable gifts amount to $200,000, all of which she made in 1997.
a. What is Sondra's 2010 gift tax liability?
b. What is her 2010 gift tax liability under the assumption that she made the $200,000 if taxable gifts in 1974 instead of 1997?