Before last year, neither Hugo nor Wanda, his wife, made any taxable gifts. In 2013, Hugo gave

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Before last year, neither Hugo nor Wanda, his wife, made any taxable gifts. In 2013, Hugo gave $14,000 cash to each of his 30 nieces, nephews, and grandchildren. In 2014, Wanda gives $34,000 of stock to each of the same people. What is the minimum legal gift tax liability (before reduction for the unified credit) for each spouse for each year?

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Federal Taxation 2015 Comprehensive

ISBN: 9780133807783

28th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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