Elizabeth, a widow since 2000, made taxable gifts of $3 million in 2011 and $4 million in

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Elizabeth, a widow since 2000, made taxable gifts of $3 million in 2011 and $4 million in 2016. She paid no gift tax on the 2011 transfer. What is her tax base for determining any gift tax on the 2016 gift?
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South Western Federal Taxation 2017 Comprehensive

ISBN: 9781305874169

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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