Lanny won 10 million at a casino 2 years ago and invested, Ask an Expert

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Lanny won $10 million at a casino 2 years ago and invested in mutual funds. When he married Judy last year, they signed prenuptial agreements. Then, in the current year, Lanny decided to give away some of his money. He made the following gifts: $100,000 cash to Judy $50,000 to each of his 3 adult children $50,000 to the democratic party What are the total taxable gifts that Lanny made in the current year? a. 200,000 b. 300,000 c. 111,000 d. 150,000.

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Financial Accounting, Accounting

Category:- Financial Accounting
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