A widow, who has made no prior gifts, wishes to give her adult son $500 outright. See 2503(b). b.

A widow, who has made no prior gifts, wishes to give her adult son $500 outright. See 2503(b). b.

Question:

A widow, who has made no prior gifts, wishes to give her adult son $500 outright. See § 2503(b).

b. Starting in 2002, a wealthy widower, who had made no prior gift, made annual exclusion gifts to each of six adult family members.  See § 2503(b). Was he required to file any gift tax returns? See § 6019. How much of the donor’s applicable credit amount has been consumed?

c. A widow, who has made no prior gifts, gives her adult daughter $23,000 outright in each of two successive years.

d. A widower, who had made no prior gifts, gave his married daughter and her husband a $38,000 gift to use as a down payment on a house.
What are the federal gift tax consequences

Expert Answer:

Answer rating: 100% (QA)

a The widow s gift of 500 to her adult son would generally not have any federal gift tax consequences because it is well below the annual gift tax exc
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