In earlier years, neither Hugo nor Wanda, his wife, made any taxable gifts. In 2016, Hugo gave

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In earlier years, neither Hugo nor Wanda, his wife, made any taxable gifts. In 2016, Hugo gave $14,000 cash to each of his nieces, nephews, and grandchildren, 30 persons in total. In 2017, Wanda gives $34,000 of stock to each of the same people. What is the minimum legal gift tax liability before reduction for the unified credit for each spouse for each year?

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Federal Taxation 2018 Comprehensive

ISBN: 9780134532387

31st Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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