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OT 38 nathan

This topic has 1 reply, 2 voices, and was last updated 10 years ago by Tax Tutor.

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November 4, 2014 at 10:21 am #207624
josy87
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Sir I don’t understand why the wedding exemption is not 5000. I used 5000 but in your answer it is 1000. wedding gift to a nephew.
November 9, 2014 at 3:21 pm #208629
Tax Tutor
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See OT course notes chapter 23 section 7 and illustration 10 on the same page which you should have worked through before attempting this example! It is only 5000 where a parent gifts to their child.
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