Question

Gift taxes are subject to 15,000 exclusion between spouses O O True False Click to select your answer. javascript:doExercise

0 0
Add a comment Improve this question Transcribed image text
Answer #1

True .

In the same tax year , the one spouse (husband)can give $ 15000 to other spouse(wife) and similarly the wife can give to husband as a gift $ 15000 which would not be taxed.

thus making it effectively $30,000 however covered by two differed exclusion.

Add a comment
Know the answer?
Add Answer to:
Gift taxes are subject to 15,000 exclusion between spouses O O True False Click to select...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • If a 13-year-old has earned income of $500 and interest and dividends of $2.500, all of...

    If a 13-year-old has earned income of $500 and interest and dividends of $2.500, all of the income can be reported on the parent's return. True O False Click to select your answer. javascript:do Exercise(8); 5:53 PM + O Type here to search E e O L 5 S W - 'O l. x 1/26/2020

  • Tobe is a 22 - year – old college student with $5,000 of interest income and...

    Tobe is a 22 - year – old college student with $5,000 of interest income and $6,000 of earned income. Kiddie tax will apply to him if O A. he is a part – time student and the cost of his support is $12,000 or less. B. he is a part – time student and the cost of his support exceeds $12,000. O C. he is a full – time student and the cost of his support exceeds $12,000. O...

  • please tell me is it true or false im doing my exam Allocations of corporate headquarters...

    please tell me is it true or false im doing my exam Allocations of corporate headquarters expenses to divisions used in return on investment calculations should be limited to the cost of those actual services provided by central headquarters, which the divisions otherwise would have to provide for themselves Select one O True Es page 1st page e Type here to search o ESC CE स D 7 2 3 4 8 9 0 VA *5 T Q W E...

  • Melissa is a single taxpayer. Her salary is $40,000. Melissa realized a short-term capital loss of...

    Melissa is a single taxpayer. Her salary is $40,000. Melissa realized a short-term capital loss of $6,000. Her itemized deductions total $3,000. (The tax year is 2019.) (Click the icon to view the standard deduction amounts.) (Click the icon to view the tax rate schedule.) Read the requirements. Requirements a. and b. Compute Melissa's adjusted gross income and her taxable income. Start by computing Melissa's adjusted gross income and then her taxable income. (Use parentheses or a minus sign to...

  • I specifically need help with the last questions on the last screen shot of this My Stat Lab problem. A,B,C,or D??? The data set is | O Home-» Students xMyLab Statistics All Assignmen Do Homework- D...

    I specifically need help with the last questions on the last screen shot of this My Stat Lab problem. A,B,C,or D??? The data set is | O Home-» Students xMyLab Statistics All Assignmen Do Homework- Dustin Stepp x C Get Homework Help With Che x+ Southern New Hampshire Uni Pe ← → C 을 https://www.maths homeworkld-5230593758questionld-5&flushed-false&ucld-54288408uback-DoAssignments.aspx?view-homew... . President Kennedy Apps Watch 30 for 30 Se.. Dustin Stepp 4/26/19 2:11 PM MAT-240-R4710 Applied Statistics 19EW4 Homework: 5-2 MyStatLab: Module Five Problem...

  • Answer TRUE OR FALSE. CHAPTER 1 1. Two notable trends in tax revenue sources is that...

    Answer TRUE OR FALSE. CHAPTER 1 1. Two notable trends in tax revenue sources is that social security taxes have decreased gradually while corporate income taxes have increased gradually over the last fifty years. 2. If a progressive tax rate system is used, as a taxpayer's taxable income decreases, a progressively higher rate of tax is applied. 3. The marginal tax rate measures the tax rate applicable to the next dollar of income or deduction for a taxpayer. 4. All...

  • O PROTECTED VIIW le cartes from the late canc e l you need to edit alerto...

    O PROTECTED VIIW le cartes from the late canc e l you need to edit alerto y P ed r AS2X 509,100 40.400 1114 e Rocamoro us of costs 2 Knight company reports the following costs and experts in May Factory unties $15,500 Dired labor Depreciation on factory equipment 12,000 Sales salaries Depreciation on delivery truck 3,800 Property taxes on factory buildin Indirect factory labor 48.900 Repairs to office equipment Indirect malab 30,000 Factory repas Direct malerard 137,000 Advertising Factory...

  • AutoSave Off HD Unit 1 Project Fall 2020 (2) - Protected View - Excel guada gucci...

    AutoSave Off HD Unit 1 Project Fall 2020 (2) - Protected View - Excel guada gucci GG File Home Insert Draw Page Layout Formulas Data Review View Help O Search Share Comments i PROTECTED VIEW Be careful—files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing X H16 fox 1 J к L N O P P Q R S т U A B с D E F G...

  • MAT 2525 SCISLILS ST spring 2020 Homework: 3.1 Basic Probability & Counting Score: 0 of 1...

    MAT 2525 SCISLILS ST spring 2020 Homework: 3.1 Basic Probability & Counting Score: 0 of 1 pt 4 of 17 (3 complete) X 3.1.11 A random number generator is used to select an integer from 1 to 50 (inclusively). What is the probability of selecting the integer 35? The probability is Type an integer or a decimal. Do not round.) Erfor your answer in the a wer box and then click Check Answer All parts showing Clear All caps lock...

  • Titanic Cruise Company plans on releasing it's new "Superliner" cruise ship in time for the peak...

    Titanic Cruise Company plans on releasing it's new "Superliner" cruise ship in time for the peak Spring cruise season. The Superliner is the largest and most expensive cruise ship ever built. The ship will be longer than 4 football fields. The ship has amenities that were never possible before on a commercial cruise ship. Features include rock climbing walls, skydiving simulators, an open air "atrium" version of Central Park, and nearly two dozen specialty restaurants. Sinbad the Sailor, the President...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT