American College Exam HS330 Topic 3 Question 107 Discussion

Transactions involving a taxable gift include which of the following?

1. A father bought real estate, paid the entire $180,000 purchase price, and titled it jointly with his son with right of survivorship.

2. A father deposited $50,000 in a bank account titled jointly with his daughter with right of survivorship and died before any funds were withdrawn from the account.