Question: In 2 0 2 4 , Don and his son purchased real estate for an investment. The price of the property was $ 5 0

In 2024, Don and his son purchased real estate for an investment. The price of the property was $500,000, and the title named Don and his son as joint tenants with the right of survivorship. Don provided $320,000 of the purchase price and his son provided the remaining $180,000. Has Don made a taxable gift and, if so, in what amount?

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