Exercise 18-19 (Algorithmic) (LO. 3) Elizabeth made taxable gifts of $6,850,000 in 2020 and $8,905,000...
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Accounting
Exercise 18-19 (Algorithmic) (LO. 3)
Elizabeth made taxable gifts of $6,850,000 in 2020 and $8,905,000 in 2022. She paid no gift tax on the 2020 transfer.
On what amount is the Federal gift tax computed for the 2022 gift?
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