During 2015, Mitchael, a single individual, made the following cash gifts: Alexandra used the money to pay

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During 2015, Mitchael, a single individual, made the following cash gifts:

Donee Alexandra Kaila Marinka Amount $ 7,200 15,000 34,000

Alexandra used the money to pay for her medical expenses, whereas Kaila and Marinka used the money for personal purposes. Mitchael did not make any gifts in prior years.

In filing the 2015 gift tax return, Mitchael will report a taxable gift of:

a. $0
b. $14,200
c. $21,000
d. $56,200

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South Western Federal Taxation 2017 Comprehensive

ISBN: 9781305874169

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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Question Posted: Oct 28, 2023 11:27 AM

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During 2015, Mitchael, a single individual, made the following cash gifts: Alexandra used the money to pay

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The answer is c 21000 Mitchael is allowed to give each individual a gif...View the full answer

South Western Federal Taxation 2017 Comprehensive

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