Multiple Choice
In 2020, Letty makes taxable gifts totaling $4 million. Her only other taxable gifts amount to $1 million, all of which were made in 2018. What is Letty's 2020 gift tax liability before the unified credit?
A) $2,220,800
B) $1,875,000
C) $1,840,800
D) $1,600,000
Correct Answer:
Verified
Correct Answer:
Verified
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