44. Yuli wants to help his adult grandson, Jerry, become a CPA. He pays all of Jerry's tuition this year, which totals $20,000. He also pays $9,000 for Jerry's room and board at school. Yuli makes the payments directly to the school. What are the gift tax consequences?

Answer rating: 100% (QA)

The payments made by Yuli for Jerrys tuition and room and board are considered gif... View the full answer