High Quality Content by WIKIPEDIA articles! Forty Carats is a 1973 American film directed by Milton Katselas, based on the play by Jay Presson Allen. The screenplay was written by Leonard Gershe (who significantly changed the ending) and directed by Milton Katselas. The cast include Liv Ullman, Edward Albert, Gene Kelly, Binnie Barnes, Deborah Raffin, Nancy Walker, and Natalie Schafer. Ullman was nominated for a Golden Globe as Best Motion Picture Actress, Musical or Comedy, and the Writers Guild of America nominated Gershe`s screenplay for Best Comedy Adapted from Another Medium.