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Elizabeth and Ryan, a married couple, make the following transfers in 2024: $6,000 cash to each of their three children: Sophia, Helen, and Luke $15,000
Elizabeth and Ryan, a married couple, make the following transfers in 2024: $6,000 cash to each of their three children: Sophia, Helen, and Luke $15,000 tuition paid to their oldest daughter Sophia's university 520,000 paid to a qualified charity $10,000 paid to a political campaign $18,000 paid to a hospital for Elizabeth's mother's surgery $200,000 to a revocable trust for the benefit of their three children $2,000 laptop to the housekeeper's son, Julio $50.000 car to Helen, subject to a liability of $6,000 1. Assuming that Elizabeth and Ryan elect to split gifts, what are the total gross gifts? 2. What are the taxable gifts
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