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Kenny is considering transferring the vacation property to a QPRT next year naming his two...

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Accounting

Kenny is considering transferring the vacation property to a QPRT next year naming his two daughters as the remainder beneficiaries. The value of his retained interest is valued at $48,000. What would Kennys total taxable gift be for this transfer?

A) $38,000

B) $48,000

C) $52,000

D) $100,000

Please provide a detail explanation, thank you.

Answer & Explanation Solved by verified expert
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