On December 15, 2015, Amanda sends Peter, her son, a check for an amount equal to the

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On December 15, 2015, Amanda sends Peter, her son, a check for an amount equal to the §2503

(b) gift tax annual exclusion.

a. Peter deposits the check in his bank on December 29, 2015. The check clears Amanda’s bank on January 3, 2016. What are the gift tax consequences?

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Money Banking and Financial Markets

ISBN: 978-1259746741

5th edition

Authors: Stephen Cecchetti, Kermit Schoenholtz

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Posted Date: Dec 15, 2020 07:46 AM

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On December 15, 2015, Amanda sends Peter, her son, a check for an amount equal to the

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3 Gift tax is a federal tax on transfers of money or property to other people while ... View the full answer

Money Banking and Financial Markets

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