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safezone safezone
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7 years ago
Vincent makes the following property transfers in the current year:

•   $5,000 tuition for a grandson paid directly to the school
•   $1,000 medical expense for a child paid directly to a hospital
•   $500 donation to the Democratic party
•   $10,000 property settlement in conjunction with a divorce
•   $3,000 room and board at college for a grandson paid directly to the school

Vincent's gifts for the year before considering the annual gift tax exclusion total
A) $19,500.
B) $19,000.
C) $3,000.
D) $0.
Textbook 
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
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That's not philosophy, it's geometry
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genflynngenflynn
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We have the most crude accounting tools. It's tragic because our accounts and our national arithmetic doesn't tell us the things that we need to know.

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Just got PERFECT on my quiz
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