Sam giftedt 4 trucks costing 50,000 each of his 4 friends. What is the amount of...

Question

Question

Sam giftedt 4 trucks costing 50,000 each of his 4 friends. What is the amount of Sams taxable gifts? O A. $335,000 O B. $140

Answer 1

Answer #1

According to the provision of us gift tax - the gift with annual limit of $150DD in total ( not per person) is exempt. Along

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Answer 2

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