Question
Andi is a single taxpayer. She has made annual gifts of $60,000 to each of her four children beginning in 2019. Sue dies in 2023
Andi is a single taxpayer. She has made annual gifts of $60,000 to each of her four children beginning in 2019. Sue dies in 2023 before making any taxable gifts.
Andi has filed a gift tax return each year, reported gifts made, and elected to apply a portion of her Applicable Lifetime Exemption Amount to the gift taxes owed 2019 - 2022.
How much is the total lifetime TAXABLE gift amount Andi has given to her children?
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Step 11 Since Andi has made annual gifts of 60000 to each of her four children the total amo...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
