What is the gift tax, Prepare your net worth statement

What is the gift tax

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Question: 1. Prepare your net worth statement using the Assets 2 Liabilities 5 Net worth equation.

2. In 2014, you gave a $12,000 gift to a friend. What is the gift tax?

3. In 2014, Joshua gave $14,000 worth of Microsoft stock to his son. In 2015, the Microsoft shares are worth $23,000.

What was the gift tax in 2014?

Reference no: EM131486842

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