2. Andy and Shay are married and live in Texas, a community property state. For their birthdays...

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2. Andy and Shay are married and live in Texas, a community property state. For their birthdays this year Andy gave cash gifts of $25,100 to each of his two daughters, and Shay gave $36,800 to her niece.

What is the amount of Andy's taxable gifts?

a. zero, if Andrew and Brianna elect to split gifts.

b. None of these.

c. $4,400

d. $14,000

e. $28,000

Show your solution.

Related Book For answer-question

South Western Federal Taxation 2016 Corporations Partnerships Estates and Trusts

ISBN: 9781305399884

39th edition

Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young

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Posted Date: May 12, 2020 08:20 AM

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2. Andy and Shay are married and live in Texas, a community property state. For their birthdays...

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Answer a Solution According to federal tax laws married couples are ... View the full answer

South Western Federal Taxation 2016 Corporations Partnerships Estates and Trusts

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