For the holidays, Michalis gave a watch worth $25,000 to Sobia and jewelry worth $40,000 to Natalie. a. Has Michalis made any taxable gifts this year and, if so, in what amounts? b. Assume Michalis is married to Wendy and lives in a community-property state. What are the amounts, if any, of their taxable gifts? Note: For all requirements, leave no answer blank. Enter zero if applicable. Answer is not complete. a. Michalis taxable gift to Sobia a. Michalis taxable gift to Natalie b. Michalis taxable gift to Sobia b. Michalis taxable gift to Natalie b. Wendy's taxable gift to Sobia $ $ b. Wendy's taxable gift to Natalie

For the holidays, Michalis gave a watch worth $25,000 to Sobia and jewelry worth $40,000 to Natalie. a. Has Michalis made any taxable gifts this year and, if so, in what amounts? b. Assume Michalis is married to Wendy and lives in a community-property state. What are the amounts, if any, of their taxable gifts? Note: For all requirements, leave no answer blank. Enter zero if applicable. Answer is not complete. a. Michalis taxable gift to Sobia a. Michalis taxable gift to Natalie b. Michalis taxable gift to Sobia b. Michalis taxable gift to Natalie b. Wendy's taxable gift to Sobia $ $ b. Wendy's taxable gift to Natalie

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter19: Family Tax Planning

Section: Chapter Questions

Problem 17CE

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