Jake transferred $1,500,000 to a GRAT naming his two children as the remainder beneficiaries, while...
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Jake transferred $1,500,000 to a GRAT naming his two children as the remainder beneficiaries, while retaining an annuity valued at $500,000. If this is the only transfer Jake made during the year, what is Jake's total taxable gift for the year? (A) $0 (B) $972,000 (C) $1,000,000 (D) $1,472,000
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