On the advice of her estate planner grace made taxable, Accounting Basics

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On the advice of her estate planner grace made taxable

Question: On the advice of her estate planner, Grace made taxable gifts of $5 million in the 2011. Grace dies in late 2016 leaving a taxable estate of $1.1 million. Grace has always been single and never made any taxable gifts before 2011. Determine her estate tax liability.

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Accounting Basics: On the advice of her estate planner grace made taxable

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