Question
During the year, Mitchell, a single taxpayer, gave the following gifts $5,000 cash to is nephew $13,000 tuition paid for his 24 year old daughter,
During the year, Mitchell, a single taxpayer, gave the following gifts
$5,000 cash to is nephew
$13,000 tuition paid for his 24 year old daughter, paid directly to the State University
$10,000 cash to its brother
30 shares of stock to les niece valued at $400 a share
In fling his annual gift tax return, what is the amount of his taxable gifts
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Get StartedRecommended Textbook for
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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