Computation of Estate Tax Liability (LO. 8)
On the advice of her estate planner, Grace made taxable gifts of $5,000,000 in 2011. Grace dies in late 2013 leaving a taxable estate of $1,100,000. Grace never made any taxable gifts before 2011.
Click here to access the unified transfer credit table and the unified transfer tax rate tables.
Grace's estate tax liability is $ .