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Question 1 3 In which of the following situations is the transaction treated as a gift? Cool Dad buys his son a $ 2 5
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In which of the following situations is the transaction treated as a gift?
Cool Dad buys his son a $ Harley Davidson motorcycle. His son is years old, lives at home, and is his tax dependent.
Generous Mom gives her son an off grid cabin in the mountains worth $ for his th birthday. Son is married with kids and a wellpaying job. He still has a mortgage on his house th the and his wife and kids live in
Cool Mom buys her daughter a $ wedding dress. Her daughter is years old and a college student.
Suffering Son pays $ a year to maintain his mother in a senior care facility. His payment covers her room and board and medical care.
None of the situations are gifts because they all involve family helping family.
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