Poppy, a single taxpayer, made three gifts in 2018: $6,300 cash to her nephew; $12,000 cash to her daughter; and 5,000 acres of land to her brother. Poppys tax basis in the land was $400,000 and its FMV on the date of gift was $615,000. Compute Poppys taxable gifts for the year.

Question 9 options:

	$385,000
	$600,000
	$618,300
	$588,300 i feel its either option 2 or 3 if we use the 2018 15,000 per recepient exclusion then we can either use it on all threee situation which at the end its only 615,000 - 15,000 then its 600,000