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For the holidays, Marty gave a watch worth $23,000 to Emily and jewelry worth $58,750 to Natalie. (Leave no answer blank. Enter zero if applicable.)

For the holidays, Marty gave a watch worth $23,000 to Emily and jewelry worth $58,750 to Natalie. (Leave no answer blank. Enter zero if applicable.)

a. Has Marty made any taxable gifts this year and, if so, in what amounts?

Marty's taxable gift to Emily
Marty's taxable gift to Natalie

b. Assume Marty is married to Wendy and they live in a community property state. What are the amounts, if any, of their taxable gifts?

Marty's taxable gift to Emily
Marty's taxable gift to Natalie
Wendy's taxable gift to Emily
Wendy's taxable gift to Natalie

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