During 2022, Will gives $40,000 cash to Will, Jr. nd a remainder interest in a few acres
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During 2022, Will gives $40,000 cash to Will, Jr. nd a remainder interest in a few acres of land to his friend Suzy. The remainder interest is valued at $32,000. Will and his wife, Helen, elect gift splitting, and during the current year Helen gives Joyce $8,000 of stock. What is the total amount of the annual gift tax exclusions available to Will and Helen?
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Will and Helen each will receive 20000 of annual gift tax exclusions as foll...View the full answer
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Related Book For 
Pearsons Federal Taxation 2023 Comprehensive
ISBN: 9780137840656
36th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S Hulse
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