Yee made $3 million of taxable gifts in 1993 and paid gift taxes (less the unified credit)of $1,098,000. Yee died with a taxable estate of $10,000,000. At current rates, the gift taxes payable on $3 million would be $1,145,800. Yee died in a year when the unified credit was $2,045,800. Determine her estate tax liability.

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The Answer of Yee made $3 million of taxable gifts in 1993 and paid gift taxes (less the unified credit)of $1,098,000. Yee died with a taxable estate of $10,000,000. At current rates, the gift taxes payable on $3 million would be $1,145,800. Yee died in a year when the unified credit was $2,045,800. Determine her estate tax liability.

Yee Made $3 Million of Taxable Gifts in 1993 and Paid