Bob wants to give $15,000 to his friend and wants to use the annual exclusion to avoid gift tax. Which of the following is not a requirement? The gift cannot exceed $15,000 It must be a gift of a present interest. His wife must consent to the gift It must be completed gift this year.

Annual exclusion is limit of tax free gift. In simple, gift within the limit or requirement of…

Answered: Which of the following is not a…

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter27: The Federal Gift And Estate Taxes

Section: Chapter Questions

Problem 31CE

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		The gift cannot exceed $15,000
		It must be a gift of a present interest.
		His wife must consent to the gift
		It must be completed gift this year.