Andrew and Brianna are married and live in Texas, a community property state. For their birthdays this year Andrew gave cash gifts of $22,100 to each ofhis two daughters, and Brianna gave $36,800 to her niece. What is the amount of Andrew's taxable gifts?Multiple ChoiceO$3,400.$10,000.$25,000.zero if Andrew and Brianna elect to split gifts.None of the choices are correct.

As per the current United States federal tax rates. Current year gift exclusions limit for 2018…

Answered: Andrew and Brianna are married and live…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter27: The Federal Gift And Estate Taxes

Section: Chapter Questions

Problem 3BCRQ

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Andrew and Brianna are married and live in Texas, a community property state. For their birthdays this year Andrew gave cash gifts of $22,100 to each of his two daughters, and Brianna gave $36,800 to her niece. What is the amount of Andrew's taxable gifts?