(EE126) Which of the following gifts would be considered a taxable gift? Billy gave his nephew
$50,000
for college tuition and housing expenses. Billy gave his wife $90,000 to purchase a new car. Billy gave $17,000 to the United Way. Billy gave
$30,000
to the hospital for his best friends medical bills.

Question

(EE126) Which of the following gifts would be considered a taxable gift? Billy gave his nephew

$50,000

for college tuition and housing expenses. Billy gave his wife $90,000 to purchase a new car. Billy gave $17,000 to the United Way. Billy gave

$30,000

to the hospital for his best friends medical bills.

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