In 2020, you gave a gift of $15,000 to a friend. What was the gift tax?
Question:
In 2020, you gave a gift of $15,000 to a friend. What was the gift tax?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (14 reviews)
There is no gift tax Yo...View the full answer
Answered By
Carly Cimino
As a tutor, my focus is to help communicate and break down difficult concepts in a way that allows students greater accessibility and comprehension to their course material. I love helping others develop a sense of personal confidence and curiosity, and I'm looking forward to the chance to interact and work with you professionally and better your academic grades.
4.30+
12+ Reviews
21+ Question Solved
Related Book For
Focus On Personal Finance
ISBN: 9781265521974
7th Edition
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
Question Posted:
Students also viewed these Business questions
-
What was the gift tax in 2013?
-
What was the gift tax in 2014? In 2014, Joshua gave $14,000 worth of Microsoft stock to his son. In 2015, the Microsoft shares are worth $23,000.
-
What was the gift tax in 2016?
-
8) Implement a class UserNames which requires an ArrayList of names (user names), consider the following static methods methods: initilizeUserName(), deleteUserName(), addUserName() and display...
-
5 3x + 1 13 Describe the solution set as an inequality, in interval notation, and on a graph.
-
What other health and safety actions would you recommend for them now, and why?
-
Give three reasons why the ICP accelerometer is the chosen transducer for vibration analysis.
-
Real Cash Flows you are planning to save for retirement over the next 30 years. To save for retirement, you will invest $700 a month in a stock account in real dollars and $300 a month in a bond...
-
How does bioprocess intensification, such as using high cell density cultures or integrated processes, contribute to enhanced productivity and sustainability in industrial bioprocessing ?
-
A.0.50 mole sample of N2O4(g) is allowed to come to equilibrium with NO2(g) in a 0.750L flask. At equilibrium , 0.42mol N2O4 remains. Calculate the equilibrium concentrations of N2O4 and NO2 and...
-
How much money can they gift to their children in 2020 without any gift tax liability? Barry and Mary have accumulated over $3.5 million during their 50 years of marriage. They have three children...
-
Using Exhibit 143, calculate approximately how much money the household from Problem 4 spends on health care. Pretax Annual Income Annual Expenditures Housing Food Clothing Transportation Health Care...
-
Bernoullis equation is an expression of (a) Conservation of mass. (b) Conservation of energy. (c) Conservation of momentum. (d) Conservation of angular momentum.
-
How does lean production impact product quality and customer satisfaction?
-
How does lean production contribute to the reduction of lead time in the order fulfillment process?
-
How does lean production impact the overall employee morale and job satisfaction within an organization?
-
Consider a 345-kV transmission line with the series inductance per-unit length of wL = 0.4560/km and shunt capacitance per-unit length of wC = 4.123uU/km. [20 points] a) Calculate the surge impedance...
-
How does lean production enable organizations to better respond to disruptions and changes in the marketplace?
-
Matrices A and B are m ( n, and their reduced row echelon forms are the same. What is the relationship between the null space of A and the null space of B?
-
Cobb Manufacturing Company uses a process cost system and average costing. The following production data is for the month of June 2011. Production Costs Work in process, beginning of the month:...
-
What are the two basic types of employer pension plans?
-
Calculate approximately how much money an older (65+) household with an annual income of $45,000 spends on housing each year.
-
What are four major sources of retirement income?
-
(3) Calculate m(R) (volume of R) Given: R is the region of the 3- dim space, defined by: 3 Upper border: Z = 92 (x, y) = 3x+5y3 Lower border: Z = 9, (x,y) = x+y xy projection: D= pr (R) = triangle...
-
Explain what is Model, Strategy, Algorithm in math teaching? How is it similar/compare to 'algorithm' language of borrow or carry over in subtraction
-
Directions and Info for Building 1. Use a program where you can draw and type, like pages, or you can draw this out on a piece of paper and take a picture to submit. 2. You will begin with the...
Study smarter with the SolutionInn App