In 2020, Letty Makes Taxable Gifts Totaling $4 Million

question 43

Multiple Choice

In 2020, Letty makes taxable gifts totaling $4 million. Her only other taxable gifts amount to $1 million, all of which were made in 2018. What is Letty's 2020 gift tax liability before the unified credit?

• A)$2,220,800
• B)$1,875,000
• C)$1,840,800
• D)$1,600,000

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