Dave bought the rental property for 200000 cash one year

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Reference no: EM13476837

1. Barry and his wife Mary have accumulated over $4 million during their 45 years of marriage. They have three children and five grandchildren.

A- How much money can Barry and Mary gift to their children in 2008 without any gift tax liability?

B- How much money can Barry and Mary gift to their grandchildren?

C- What is the total amount of estate removed from Barry and Mary's estate?

2. Dave bought a rental property for $200,000 cash. One year later, he sold it for $240,000.

A- What was the return on his $200,000 investment?

B- Suppose Dave invested only $20,000 of his own money and borrowed $180,000 (interest free from his rich father). What was his return on investment?

Reference no: EM13476837

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