Answer to Question #291063 in Economics for Jen

Question

Betty, a married taxpayer, makes the following gifts during the current year (2021): $20,000 to her church, $100,000 to her daughter, and $40,000 to her husband.

What is the amount of Betty's taxable gifts for the current year (assuming she does not elect to split the gifts with her spouse)? (To arrive at taxable gifts, a $15,000 annual exclusion is allowed per done for 2021. Complete all input fields. Enter a "0" for any zero amounts.)

Total gift given Taxable gift

Gift to daughter

Gift to husband

Contribution to church

Total

Answer 1

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