Several years ago, Theo and his sister, Rudy, purchased a tr…
Several years ago, Theo and his sister, Rudy, purchased a tract of real property as joint tenants with right of survivorship (JTWROS). Theo contributed $120,000 toward the $200,000 purchase price and Rudy contributed the remaining $80,000. Rudy died in the current year, and her will provided that all of her assets pass to her daughter, Vanessa. The real property was worth $600,000 on the date of Rudy’s death. The value of Rudy’s interest in the property includible in her gross estate is:
Read DetailsIn 2026, grandmother contributed to a Section 529 qualified…
In 2026, grandmother contributed to a Section 529 qualified tuition plan on behalf of her granddaughter. The maximum annual exclusion allowed to grandmother is $95,000 (5 x $19,000), if she properly makes the five-year election.
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