During the year, Mitchell, a single taxpayer, gave the following gifts

 $5,000 cash to is nephew

 $13,000 tuition paid for his 24 year old daughter, paid directly to the State University

 $10,000 cash to its brother

 30 shares of stock to les niece valued at $400 a share

In fling his annual gift tax return, what is the amount of his taxable gifts

Answer rating: 100% (QA)

To calculate the amount of taxable gifts for Mitchell we need to cons... View the full answer