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Kenny Is Thinking of Making a Substantial Gift of Stock

question 62

Essay

Kenny is thinking of making a substantial gift of stock to his fiancée, Maria. The wedding is scheduled for October 1 of the current year. Kenny already has exhausted his unified credit. He also is considering giving $26,000 cash this year to each of his three children by a previous marriage. What tax issues should Kenny consider with respect to the gifts he plans to make to Maria and his three children?


Definitions:

Total Reservations

Total Reservations represent the complete number of bookings or reservations made for a service, such as hotel rooms or flights, at a given time.

Latest Start Time

The latest possible time a project or task can begin without delaying the project completion.

Activity P

A specific task or action within a project or process that is identified by the letter 'P.'

Net Revenue

The amount of money a company receives from its activities after subtracting the cost of returns, allowances, and discounts.

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