a. If the election to split gifts is not made, the taxable gift is $ b. If the election to split gifts is made, then the taxable gift from Lei is $ due from Lei is $ and from Greg is $ c. The tax savings from making the election is $ and gift tax due on the gift is $ and from Greg is $ . Gift tax
a. If the election to split gifts is not made, the taxable gift is $ b. If the election to split gifts is made, then the taxable gift from Lei is $ due from Lei is $ and from Greg is $ c. The tax savings from making the election is $ and gift tax due on the gift is $ and from Greg is $ . Gift tax
Chapter7: Deductions And Losses: Certain Business Expenses And Losses
Section: Chapter Questions
Problem 20DQ
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