1. Marta placed $50,000 into a savings account in her name and the name of her son....

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1. Marta placed $50,000 into a savings account in her name and the name of her son. Later this year, the son withdraws $16,000 from the account.

Marta made no other gifts to her son this year. Marta has made a taxable gift of

a. $3,000

b. $8,000

c. $16,000

d. $25,000

e. $39,000

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Taxation For Decision Makers

ISBN: 9781118091555

2012 Edition

Authors: Shirley Dennis Escoffier

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