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Donna and Daniel have lived in Louisiana their entire marriage. Currently, their combined net worth...

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Accounting

Donna and Daniel have lived in Louisiana their entire marriage. Currently, their combined net worth is $4,000,000 and all of their assets are community property. After meeting with their financial advisor, Donna and Daniel begin a plan of lifetime gifting to reduce their gross estates. During 2022, they made the following cash gifts: Son $80,000. Daughter $160,000. Republican National Committee $75,000. Granddaughter $15,000. What is the amount taxable gifts to be reported by Daniel?

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