Question: In the current year, Beth, who is single, sells stock valued at $40,000 to Linda for $18,000. Later that year, Beth gives Linda $12,000 in

In the current year, Beth, who is single, sells stock valued at $40,000 to Linda for $18,000. Later that year, Beth gives Linda $12,000 in cash.

a. What is the amount of Beth's taxable gifts?

b. How would your answer to Part a change if Beth instead gave the cash to Patrick?

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