Charlie Makes the Following Gifts in the Current Year: $40,000

question 92

Multiple Choice

Charlie makes the following gifts in the current year: $40,000 to his spouse,$30,000 to his church,$18,000 to his nephew,and $25,000 to a friend.Assuming Charlie does not elect gift splitting with his wife,his taxable gifts in the current year will be

• A)$28,000.
• B)$13,000.
• C)$25,000.
• D)$43,000.

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