What is sondras 2009 gift tax liability? what is her 2009, Ask an Expert

Accounting

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?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9439618

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