Under X's will, A receives a specific bequest of X's boat. B is designated as the residuary
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Under X's will, A receives a specific bequest of X's boat. B is designated as the residuary legatee. A neither wanted the leaky old boat nor any tax liability from disposing of it.
What should A do?
F, a widower, had an adult son in law school. In 2014, F paid $42,000 directly to the university for the son's annual tuition. In the same year, F gave his son $16,000 for living expenses while in school.
What is the amount of F's taxable gifts for the year?
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date: