hr.1 In 2024, Samantha gave each of her three nephews birthday gifts of $11,050 incash. At Christmas, Samantha gave each of her three nephews Christmas gifts ofan additional $13,050 in cash. What is the amount of the total taxable gifts, if any,made by Samantha this year?

Step 1: Identify the Annual Gift Tax Exclusion The annual gift tax exclusion for 2024 is $17,000 per…

Answered: In 2024, Samantha gave each of her…

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter19: Family Tax Planning

Section: Chapter Questions

Problem 1BCRQ

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In 2024, Samantha gave each of her three nephews birthday gifts of $11,050 in cash. At Christmas, Samantha gave each of her three nephews Christmas gifts of an additional $13,050 in cash. What is the amount of the total taxable gifts, if any, made by Samantha this year?