Gift tax liability under the assumption

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Reference no: EM13149475

In 2009, Sondra makes taxable gifts aggregating $ 2 million. Her only other taxable gifts amount to $ 700,000, all of which she made in 1997.

a. What is Sondra's 2009 gift tax liability?

b. What is her 2009 gift tax liability under the assumption that she made the $ 700,000 of taxable gifts in 1974 instead of 1997?

Reference no: EM13149475

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