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Gift tax consequences in the circumstances

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Reference no: EM133295990

1. What are the gift tax consequences in the following circumstances?

a. Alice pays the law school tuition for her 24-year-old child, Cara. Alice also sends Cara $1,500 per month for living expenses. She also pays for a laptop computer, books, and school supplies.

b. Same as 3.a., only Cara is Alice's niece, not her child.

c. Alice pays the medical bills of:

1. Cara, her 24-year-old child;

2. her niece who is 24;

3. her 63-year-old mother;

4. her best friend.

d. Alice pays the rent, utilities, and food bills of the following individuals who do not live with her:

1. her 24-year-old child;

2. her mother;

3. her best friend.

Reference no: EM133295990

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