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In 2015, Brent purchased season baseball tickets in the exclusive sky club. The price of the tickets was $93,000, and Brent divided the tickets equally
In 2015, Brent purchased season baseball tickets in the exclusive sky club. The price of the tickets was $93,000, and Brent divided the tickets equally with his two brothers. Has Brent made a taxable gift and, if so, in what amount?
A. Brent made a taxable gift of $46,000.
B. Brent made two taxable gifts of $17,000 each.
C. Brent transferred the tickets for love and affection so no gift tax is imposed.
D. Brent made two taxable gifts of $6,000.
E. None of these.
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Yes Brent has made taxable Gifts to the extent of 17000 ea...
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