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In 2018, Alejandro made a gift of $4,000,000 to each of his three sons in...

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Accounting

In 2018, Alejandro made a gift of $4,000,000 to each of his three sons in 2018. He has made no previous gifts. What is the amount of his taxable gifts and the gift tax?

The amount of Alejandro's net taxable gifts (the amount the gift tax is based on) is $and the gift tax is $.

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