Cathy, a married taxpayer, makes the following gifts during the current year (2019): $25,000 to her...

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Cathy, a married taxpayer, makes the following gifts during the current year (2019): $25,000 to her church, $74,000 to her da

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Answer 1

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Determination of Cathy's taxable gifts for the current year

	Total gift given	Taxable gift
Gift to daughter	$74000 [Given in question]	$59000 [$74000 - $15000 annual gift exclusion]
Gift to husband	$21000 [Given in question]	$0 [Cathy does not elect to split the gifts with her spouse]
Contribution to church	$25000 [Given in question]	$0 [Contribution to church is not taxable]
Total	$120000	$59000

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Answer 2

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