Solution-Gift tax payable by the patriksons on account

Gift tax payable by the patriksons on account

Reference no: EM132101005

Jane and Arthur Patrikson are happy that their daughter is graduating from high school. They gift their daughter $28,000, with $18,000 being paid out of Mr. Patrikson's account and the remaining from Mrs. Patrikson's account. What will be the gift tax payable by the Patriksons on account of the above transaction?

Reference no: EM132101005

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Gift tax payable by the patriksons on account

Reference no: EM132101005

Reference no: EM132101005

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