This year Samantha gave each of her three nephews birthday gifts of $10,000 in cash. At Christmas, Samantha gave each of her three nephews Christmas gifts of an additional $6,000 in cash. What is the amount of the taxable gifts, if any, made by Samantha this year?

A. $33,000.
B. $48,000.
C. $3,000.
D. zero-none of the gifts exceed the annual exclusion.
E. None of the choices are correct.


Answer: C

Business

You might also like to view...

Compare standard environmentalism to market environmentalism.

What will be an ideal response?

Business

______________________________ show the time periods that employees are in attendance at the job site and available for work

Fill in the blank(s) with correct word

Business

Which of the following is the most serious limitation to financial statement analysis of publicly traded companies?

a. Some companies do not use GAAP. b. Inflation can distort comparisons between years. c. Some companies report nonoperating items such as extraordinary gains and losses, while others do not. d. Different industries use different account names.

Business

The message execution style of personality symbol involves identifying and presenting ordinary people saying how much they like a product

Indicate whether the statement is true or false

Business