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What larry taxable gifts reported on gift tax return total

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Reference no: EM132873433

Question 1: In the? current? year, Larry ? gives? $50,000 cash? and? $30,000 of stock to Mike. He also? gives? $40,000? of? tax-exempt bonds to Angela. His? wife? ,? Susan? ,? gives? $200,000 of land to Angela? and? $20,000 cash to Pete. Assume the couple elects gift splitting for the current year.? ? Larry's taxable gifts reported on his gift tax return total  

A. ?$130,000
B. ?$125,000
C. ?$30,000
D. ?$170,000

Reference no: EM132873433

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