Cathy, who is single, makes gifts of $50,000 to each of her two adult children. a. Who
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a. Who is primarily liable for the gift tax on the two gifts, Cathy or the two children?
b. If Cathy has never made a taxable gift in prior years, is a gift tax due on the two gifts?
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a Cathy the donor is primarily liable for the gift ta...View the full answer
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Related Book For 
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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