tyfowl3031 tyfowl3031
  • 20-05-2023
  • Business
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this year, jordan, a single taxpayer, gave $35,000 cash to alex. alex used the money to pay medical expenses. jordan also paid $16,000 in tuition expenses directly to alex's university on alex's behalf. assume the annual gift tax exclusion is $15,000, the gift tax rate is 20%, and jordan has not used any of the unified credit.

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