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Unformatted text preview: percentage of income. The gross income would transfer over to the friend by means of a gift and therefore, will be subject to gift tax Section 1015(a). http://blogs.wsj.com/law/2007/07/25/tax-law-final-exam-question-barry-bondss-ball/ http://lawreview.vermontlaw.edu/articles/11%20Appleby%20Article%20Book %201,%20Vol%2033.pdf...
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This note was uploaded on 03/04/2010 for the course ACCOUNTING 101 taught by Professor ? during the Spring '08 term at SUNY Empire State.
- Spring '08