Cortez and Shelby are married and each made the following gifts in 2016: Cortez: $20,000 to their

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Cortez and Shelby are married and each made the following gifts in 2016:
Cortez:
$20,000 to their son
$30,000 to his mother
Shelby:
$25,000 to their daughter
$70,000 to Shelby's brother.
What is the amount of their taxable gifts assuming they elect to split gifts? $_______
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Advanced Accounting

ISBN: 978-0538480284

11th edition

Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng

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