Determine estate tax liability
Question:
On the advice of her estate planner, Grace made taxable gifts of $5 million in 2011. Grace dies in late 2013 leaving a taxable estate of $1.1 million. Grace never made any taxable gifts before 2011. Determine her estate tax liability.
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Grace dies in late 2013 leaving a taxable estate of $1.1 million. Grace never made any taxable gifts before 2011. Determine her estate tax liability.
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