60.1K
Verified Solution
Link Copied!
Bob makes the following gifts in 2017:
In 2010 he gifts $190,000.00 to his daughter Maya to buy a home;
In 2011 he gifts $50,000.00 to Maya by paying UPMC Hamot for a surgery Maya
had to have her appendix removed; and
In 2015 he gave her $250,000.00 as a part of his estate planning
1. Does Bob have to file a gift tax return?
2. What is his gift tax liability for each year?
Answer & Explanation
Solved by verified expert
