Please use the information below to complete for 709 for Jim and Sandy Perry Jim Perry (Social Security number 456 56 5656) and Sandy Perry (Social Security number 123 45 6789) live at 4278 Red Bud Avenue, Bart, OK, 74003 During 2012, they made the following gifts to their three adult children A tract of undeveloped land (basis of $40,000, fair market value of $90,000) in Davie County to Rod Perry on February 1 A condominium in Tulsa (basis of $70,000, fair market value of $100,000) to Paul Perry on April 10 Cash of $60,000 to Lisa Perry on July 1 Payment to the local university of $15,000 tuition on behalf of Lisa Perry on August 1

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Question: Please use the information below to complete for 709 for Jim and Sandy Perry. Jim Perry (Social Security number 456-56-5656) and Sandy Perry (Social Security

Please use the information below to complete for 709 for Jim and Sandy Perry.

Jim Perry (Social Security number 456-56-5656) and Sandy Perry (Social Security number 123-45-6789) live at 4278 Red Bud Avenue, Bart, OK, 74003. During 2012, they made the following gifts to their three adult children.

A tract of undeveloped land (basis of $40,000, fair market value of $90,000) in Davie County to Rod Perry on February 1
A condominium in Tulsa (basis of $70,000, fair market value of $100,000) to Paul Perry on April 10
Cash of $60,000 to Lisa Perry on July 1
Payment to the local university of $15,000 tuition on behalf of Lisa Perry on August 1

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