Natalie Bryan, a widow who lives at 425 Flathead Way, Kalispell, Montana 59901, has three adult children
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• To Daniel. Office building in Helena acquired in 2001 at a cost of $900,000, current value $1.9 million.
• To Amanda. Rental cabins in Whitefish inherited in 1999 (value $1 million) from her father, current value $1.8 million.
• To Samantha. Vacation lodge on Flathead Lake acquired in 1995 at a cost of $800,000, current value $1.9 million.
Prepare a 2016 gift tax return (Form 709) for Natalie (Social Security number 123-45-6787) to compute the total taxable gifts (line 3) for her; stop with line 3 of page 1, but complete pages 2 and 3 of the return. Natalie made no taxable gifts in prior years.
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Related Book For
South Western Federal Taxation 2018 Corporations Partnerships Estates And Trusts
ISBN: 1389
41st Edition
Authors: William H. Hoffman, William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
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