In 2018, Marah gives $20,000 cash to Sam, $60,000 of stock to Craig, and $100,000 of bonds
Question:
In 2018, Marah gives $20,000 cash to Sam, $60,000 of stock to Craig, and $100,000 of bonds to Lynn. In the same year, Marah’s husband, Bryan, gives land valued at $120,000 to Jerry.
a. What are Marah and Bryan’s taxable gifts if they do not elect gift splitting?
b. What are the couple’s taxable gifts assuming the couple elects gift splitting?
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a 240000 combined taxable gifts Marah 20000 15000 60000 1500...View the full answer
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Related Book For
Taxation For Decision Makers 2019
ISBN: 9781119497288
9th Edition
Authors: Shirley Dennis Escoffier, Karen A. Fortin
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