Yes music is the authorized distributor for products of trompa instruments, a popular manufacturer of trumpets and other brass instruments. yes music purchases products from trompa and distributes them to music stores across the country. what kind of intermediary function does yes music perform for trompa? â

Melissa is a very generous single woman. before this year, she had given over $11,400,000 in taxable gifts over the years and has completely exhausted her applicable credit amount. in the current year, melissa gave her daughter riley $100,000 and promptly filed her gift tax return. melissa did not make any other gifts this year. how much gift tax must riley pay the irs because of this transaction?