Calculate her final estate tax liability

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Question - Ghoulardi died in 2019. Her gross estate was worth $20,000,000. $5,000,000 went directly to her husband. $500,000 went to her church. Her funeral and all properly deductible liabilities of the estate totaled $100,000. Her post-1976 cumulative taxable gifts totaled $800,000; the related estate and gift tax deemed paid on cumulative gifts was $50,000. No estate taxes were paid at the state level.

Required -

a. Calculate her final estate tax liability.

b. How much income does her husband report in his personal tax return [Form 1040] from the bequest to him?

Reference no: EM132525174

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