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Gifts are taxable when they exceed a specific value called which of the following?
When is a gift considered to be complete by the IRS?
What is the maximum amount that married donors are allowed to gift to their spouse?
Which of the following is a gift that is subject to gift tax?
In 2018, what is the annual exclusion amount for gifts?
What is the maximum number of donees for making gifts in any taxable year?
Which of the following examples is NOT an example of a present interest gift?
What type of trust cannot be changed in any way or cancelled outright?
After December 31, 2017, the taxable income of a trust worth $25,000 is $3,011.50 plus what percent of the excess income?
In 2018, gift splitting permits a married couple to each use the annual per-donee exclusions for a single gift up to how much?
What is the form is used to file a gift return?
Based on the scenarios below, which requires that Form 709 be filed as a result of their gift?
If a gift return is required to be filed, what is the return due?
Randy made a gift of a vintage juke box purchased for $500 with a fair market value of $40,000 when it was gifted to Jimmy. Randy had completed restored the juke box at a cost of $15,000. Randy had tried to sell the juke box for $30,000 but did not receive any offers. When filing a gift tax return, how much must Randy list the value of the gift?
What is the exemption for the Generation Skipping Transfer tax for 2018 for a married couple filing jointly, including adjustments for inflation?