?During $2023,$ ?Vasu wants to take advantage of the annual exclusion and make gifts to his $3$ ?married children $($plus their spouses$)$ ?and his $5$ ?minor grandchildren.

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a$.$ ? How much property can Vasu give away this year without creating a taxable gift?

b$.$ ? How does your answer change if Vasu's wife, Coleen, elects to join in making the gifts? Exercise $19-22($Algorithmic$)($LO$.5)$

During $2023,$ ?Vasu wants to take advantage of the annual exclusion and make gifts to his $3$ ?married children $($plus their spouses$)$ ?and his $5$

minor grandchildren.

a$.$ ?How much property can Vasu give away this year without creating a taxable gift?

$

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One of the ways to carry out family tax planning is to start a program of lifetime giving. The objectives of such a program are to minimize transfer

taxes while keeping income tax consequences in mind.

b$.$ ?How does your answer change if Vasu's wife, Coleen, elects to join in making the gifts?

$