19. The annual exclusion, currently $14,000, is available for gift and estate tax purposes. 20. In 2015, José, a widower, sells land (fair market value of $100,000) to his daughter, Linda, for $50,000. José has not made a taxable gift.
19. The annual exclusion, currently $14,000, is available for gift and estate tax purposes. 20. In 2015, José, a widower, sells land (fair market value of $100,000) to his daughter, Linda, for $50,000. José has not made a taxable gift.
test-bank-south-western-federal-taxation-2016-19th-edition-raabe.docx