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In 2015, Loretta makes a taxable gift of $2,000,000 to her granddaughter, Bertha. Assuming that Loretta used up both her unified transfer tax credit and
In 2015, Loretta makes a taxable gift of $2,000,000 to her granddaughter, Bertha. Assuming that Loretta used up both her unified transfer tax credit and her generation-skipping transfer tax credit, how much tax does Loretta owe as a result of the transfer?
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Loretta owes a generation-skipping transfer tax of $__________ and a gift tax of $________ as a result of the transfer.
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