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During 2014, Mitchael, a single tax payer, gave the following gifts: Giftee Amount Alexandra $7,200 Kaila $15,000 Marinka $34,000 Alexandra used the money to pay
During 2014, Mitchael, a single tax payer, gave the following gifts:
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Alexandra used the money to pay medical expenses, whereas Kaila and Marinka used the money for personal purposes. Mitchael did not make any gifts in prior years.
In filing the 2014 gift tax return, Michael will report a taxable gift of:
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