CaC Cathy, who is single, makes gifts of $50,000 to each of her two adult...
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Accounting
CaC Cathy, who is single, makes gifts of $50,000 to each of her two adult children. I:1-7 a. Who is primarily liable for the gift tax on the two gifts, Cathy or the two children? b. If Cathy has never made a taxable gift in prior years, is a gift tax due on the two gifts
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