Lucy and Desi have 5 children, 4 and live in a community property state. In the current

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Question:

Lucy and Desi have

5

children,

4

and live in a community property state. In the current year, Lucy gave each of their adult children $

20, 000 (

total

=

100, 000) .

Before an annual exclusion, what is the total taxable gifts made by Lucy if she does NOT elect gift

-

splitting? If she does elect gift

-

splitting?

Posted Date: May 06, 2024 03:32 AM

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Lucy and Desi have 5 children, 4 and live in a community property state. In the current

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