Question: During the current year, Wilma, a single individual, makes the following transfers: Fair Market Value Cash to her sister $23,000 Cash to St. Annes Church

During the current year, Wilma, a single individual, makes the following transfers:

Fair Market Value

Cash to her sister $23,000

Cash to St. Anne’s Church 30,000

Cash to the Republican Party 15,000

Tuition payment directly to State College for her nephew 18,000

Payment directly to a local hospital for the medical expenses of her friend 29,000

Real estate --- Life estate to brother 35,000

Real estate --- Remainder to niece 50,000

Assuming the annual gift tax exclusion amount is $15,000, what is the total amount of taxable gifts that Wilma must report? SHOW WORK FOR PARTIAL CREDIT.

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