John gave $26,000 to each of his 10 grandchildren this year. Lisa, his wife, made no gifts
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John gave $26,000 to each of his 10 grandchildren this year. Lisa, his wife, made no gifts during the year.
a. How much are John’s taxable gifts if gift splitting is not elected?
b. How much are John’s taxable gifts if gift splitting is elected?
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Related Book For
Taxation For Decision Makers 2008
ISBN: 9780324654110
2nd Edition
Authors: Shirley Dennis-Escoffier, Karen A. Fortin
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