Final answer:
José has made a taxable gift of $37,000 by selling land to his daughter at a lower price.
Step-by-step explanation:
The subject of this question falls under Business and is relevant for College level students.
In the given scenario, José, a widower, sells land to his daughter Linda at a price lower than its fair market value. This difference between the fair market value and the sale price is considered a gift.
Therefore, José has made a taxable gift of $37,000 ($100,000 fair market value - $50,000 sale price).
It's important to note that the estate tax may be applicable on gifted amounts exceeding certain thresholds. It is always advisable to consult a tax professional or refer to the latest tax laws and regulations for precise information.