This year, Brent by himself purchased season baseball tickets in the exclusive sky club. The price of the tickets was $60,000, and Brent divided the tickets equally with his two brothers (Brent gave one-third of the tickets to each brother) . Has Brent made a taxable gift and, if so, in what amount?
A) Brent made a taxable gift of $46,000.
B) Brent made two taxable gifts of $17,000 each.
C) Brent transferred the tickets for love and affection so no gift tax is imposed.
D) Brent made two taxable gifts of $6,000.
E) None of these
Correct Answer:
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