During the year, Mitchell, a single taxpayer, gave the following gifts $5,000 cash to is nephew $13,000
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Question:
During the year, Mitchell, a single taxpayer, gave the following gifts
$5,000 cash to is nephew
$13,000 tuition paid for his 24 year old daughter, paid directly to the State University
$10,000 cash to its brother
30 shares of stock to les niece valued at $400 a share
In fling his annual gift tax return, what is the amount of his taxable gifts
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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