Kwambe is thinking of making a substantial gift of stock to his fiancee, Maya. The wedding is
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Kwambe is thinking of making a substantial gift of stock to his fiancee, Maya. The wedding is scheduled for October 1 of the current year. Assume Kwambe already has exhausted his unified credit. He also is considering giving $30,000 cash this year to each of his three children by a previous marriage. What tax issues should Kwambe consider with respect to the gifts he plans to make to Maya and his three children?
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Will the gift to Maya be eligible for the marital deduction under Sec 2523 If not should Kwambe cons...View the full answer
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