Betty, a married taxpayer, makes the following gifts during the current year (2017): $20,000 to her church,
Question:
Betty, a married taxpayer, makes the following gifts during the current year (2017): $20,000 to her church, $50,000 to her daughter, and $40,000 to her husband. What is the amount of Betty’s taxable gifts for the current year (assuming that she does not elect to split the gifts with her spouse)?
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Bettys taxable gift for the current year 2017 is 36000 computed as follow...View the full answer
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Related Book For
Federal Taxation 2018 Comprehensive
ISBN: 9780134532387
31st Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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