Last Year Brandon Opened a Savings Account with a Deposit

question 92

Essay

Last year Brandon opened a savings account with a deposit of $45,000. The account was in the name of Brandon and Melanie, joint tenancy with the right of survivorship. Melanie did not contribute to the account, but this year she withdrew $18,000. Has Brandon made a taxable gift to Melanie, and if so, in what amount?

---

Definitions:

Sexual Maturity

The developmental stage at which an individual becomes capable of reproduction.

Puberty

A developmental stage in humans marking the transition from childhood to sexual maturity, characterized by physical and hormonal changes.

Ejaculation

The expulsion of semen from the penis usually accompanying orgasm.

Voice Pitch

The perceived frequency of a voice, which can be high or low, and is often used as a characteristic to distinguish between individuals.