Business, 24.06.2019 09:20 jennypenny123

Chris and jenn made the following gifts this year: chris gave their son, evan, a car worth $4,000 owned as community property. chris also gave evan his stamp collection (separate property) valued at $60,000. chris gave his brother stephen $20,000 of chris’ separate property so stephen could purchase a new home. chris gave his sister heather $4,000 in cash from his and jenn’s joint checking account which consists only of community property. he also gave heather a piece of land he purchased before his marriage to jenn, valued at $49,000. assuming jenn did not want to split gifts, what is chris’ total taxable gifts after taking into consideration any available deductions or exclusions? $36,000. $91,000 $104,000 $133,000

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Chris and jenn made the following gifts this year: chris gave their son, evan, a car worth $4,000 o...

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