Prepare your solution in an excel spreadsheet. Within the Case Generation-Skipping Transfer Tax link above, you can attach it.

Calculate the following generation skipping taxes independent cases.

Lowell made a taxable gift of $2 million to his grandson and allocated his remaining exemption of $500,000 to the gift. What is Lowells GST tax liability? Make sure you show all your work on an excel spreadsheet.

Nora died in 2018 and bequeathed $3 million to her great niece Margo. Nora had $2 million of GST exemption remaining at her death. What was the amount of the GST tax attributed to this bequest? Make sure you show all your work on an excel spreadsheet.