Gift Tax. Betty, a married taxpayer, makes the following gifts during the current year (2023): ($20,000) to

Question:

Gift Tax. Betty, a married taxpayer, makes the following gifts during the current year (2023): $$20,000$ to her church, $$100,000$ to her daughter, and $$40,000$ to her husband. What is the amount of Betty’s taxable gifts for the current year (assuming she does not elect to split the gifts with her spouse)?

Fantastic news! We've Found the answer you've been seeking!