Question: In 2 0 2 3 , Nathan transferred $ 8 million taxable gift to an irrevocable trust established for the benefit of his nephew. The

2023,

Nathan transferred $

8

million taxable gift to an irrevocable trust established for the benefit of his nephew. The trustee is directed to accumulate income for the next five years before distributing the trust corpus to Nathan's nephew. In past years Nathan has made taxable gifts of $

9

million and used an applicable credit on an applicable exclusion of $

5

million. What amount of gift tax, if any, must Nathan remit?

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