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What is the total amount of tina taxable gifts

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Reference no: EM132829396

Tina made the following transfers during 2021:

  1. $17,000 to her grandson's law school for his tuition.
  2. $1,000 to her neighbor to help him pay a hospital bill.
  3. A transfer of property valued at $100,000 to a GRAT. Tina retained an annuity valued at $40,000 and her daughter is the remainder beneficiary.

Problem 1: What is the total amount of Tina's taxable gifts for 2021?

Option 1: $40,000
Option 2: $60,000
Option 3: $62,000
Option 4: $65,000

Reference no: EM132829396

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