In the current year, Tru Patriot and his wife are so excited that their daughter is coming
Fantastic news! We've Found the answer you've been seeking!
Question:
In the current year, Tru Patriot and his wife are so excited that their daughter is coming back to Patriotx Country that he gives her $25,000 cash to assist with her relocation expenses from NY Jets Country to Boston and pays the moving company’s bill of $5,000. Tru Patriot claims he does not have to file a gift tax return.
- Is Tru Patriot correct?
- If not what does he have to do to keep from using his lifetime exclusion?
Related Book For
Concepts in Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
Posted Date: