Gloria makes the following gifts during the year: Before considering the unified credit, what are Gloria's taxable gifts?

Name: Gloria makes the following gifts during the year: Before considering the unified credit, what are Gloria's taxable gifts?
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Question

Gloria makes the following gifts during the year:  Before considering the unified credit, what are Gloria's taxable gifts?

Quizplus · Accepted Answer

A) ($15,000 - 14,000) + ($30,000 - 14,000) = $17,000. The transfer to a trust is not a completed gift since it is revocable, and the transfer to charity is excluded.

Gloria Makes the Following Gifts During the Year: Before