For 2012 the ﬁrst $5,120,000 of the taxable estate is generally tax-free due to the allowance of a $1,772,800 tax credit.

Name: For 2012 the ﬁrst $5,120,000 of the taxable estate is generally tax-free due to the allowance of a $1,772,800 tax credit.
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This statement is true. The tax credit for 2012 is indeed $1,772,800, and it can be used to offset up to $5,120,000 of the taxable estate. This means that the first $5,120,000 of the estate is generally tax-free.

For 2012 the ﬁRst $5,120,000 of the Taxable Estate Is