Question
In the current year, Tru Patriot and his wife are so excited that their daughter is coming back to Patriotx Country that he gives her
In the current year, Tru Patriot and his wife are so excited that their daughter is coming back to Patriotx Country that he gives her $25,000 cash to assist with her relocation expenses from NY Jets Country to Boston and pays the moving companys bill of $5,000. Tru Patriot claims he does not have to file a gift tax return.
- Is Tru Patriot correct?
- If not what does he have to do to keep from using his lifetime exclusion?
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The Principles And Practice Of Auditing
Authors: George Puttick, Sandra Van Esch
8th Edition
0702156914, 978-0702156915
