40 Carats is a 1973 American romantic comedy film directed by Milton Katselas. It is based on the 1968 play of the same name by Jay Presson Allen. The screenplay was written by Leonard Gershe (who significantly changed the ending).The film stars Liv Ullmann, Edward Albert, Gene Kelly, Binnie Barnes(in her final film role), 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.