Andrew and Brianna are married and live in Texas, a community - property state. For their birthdays in 2023, Andrew gave cash gifts of $25,000 to each of his two daughters, and Brianna gave $40,000 to her niece. What is the amount of Andrew's taxable gifts? Multiple Choice $3,000 $16,000 $39,000 Zero only if Andrew and Brianna elect to split gifts. None of the choices are correct.
Andrew and Brianna are married and live in Texas, a community - property state. For their birthdays in 2023, Andrew gave cash gifts of $25,000 to each of his two daughters, and Brianna gave $40,000 to her niece. What is the amount of Andrew's taxable gifts? Multiple Choice $3,000 $16,000 $39,000 Zero only if Andrew and Brianna elect to split gifts. None of the choices are correct.
Chapter27: The Federal Gift And Estate Taxes
Section: Chapter Questions
Problem 23CE
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Transcribed Image Text:Andrew and Brianna are married and live in Texas, a community - property state. For their birthdays in 2023,
Andrew gave cash gifts of $25,000 to each of his two daughters, and Brianna gave $40,000 to her niece.
What is the amount of Andrew's taxable gifts? Multiple Choice $3,000 $16,000 $39,000 Zero only if Andrew
and Brianna elect to split gifts. None of the choices are correct.
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Publisher:
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