Jinn and Liin are married and live in a common law state. They want to make gifts to their four children in 2021. What is the maximum amount of the annual exclusion they will be allowed for these gifts? a.$30,000. b.$120,000. c.$60,000. d.$15,000.
Jinn and Liin are married and live in a common law state. They want to make gifts to their four children in 2021. What is the maximum amount of the annual exclusion they will be allowed for these gifts? a.$30,000. b.$120,000. c.$60,000. d.$15,000.
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 24CE
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Question
Jinn and Liin are married and live in a common law state. They want to make gifts to their four children in 2021. What is the maximum amount of the annual exclusion they will be allowed for these gifts?
a.$30,000.
b.$120,000.
c.$60,000.
d.$15,000.
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