Business, 29.07.2020 21:01 livigrace9004
During the year, Fred makes the following transfers:
a. $9, 875 to his mayor's reelection campaign.
b. $19, 625 to his aunt, Ava, to reimburse her for what she paid the hospital for her gallbladder operation. (Ava is not Fred's dependent.)
c. $9, 095 paid directly to the surgeon who performed Ava's gallbladder operation.
d. $13, 740 to purchase a used pickup truck for his son to use while attending college.
Determine the amount of transfers that are subject to the Federal gift tax. (Include the total amount and disregard the annual exclusion.)
Answers: 2
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During the year, Fred makes the following transfers:
a. $9, 875 to his mayor's reelection campaign....
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