Hugh Colburns financially destitute brother, Big Al, has a daughter named Violet. Hugh offers to pay for
Question:
Hugh Colburn’s financially destitute brother, Big Al, has a daughter named Violet. Hugh offers to pay for Violet's college education.
In 2019, Hugh pays Columbia University’s annual tuition of $50,000 and he also gives Violet an annual allotment of $16,000.
Determine Hugh’s taxable gifts for 2019.
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In this scenario Hugh is paying for Violets college education There are specific exclusions for educ...View the full answer
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Related Book For 
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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