Burt and Lisa Are Married and Live in a Common

question 53

Multiple Choice

Burt and Lisa are married and live in a common law state.Burt wants to make gifts to their four children in 2019. What is the maximum amount of the annual exclusion they will be allowed for these gifts?

• A)$15,000.
• B)$30,000.
• C)$60,000.
• D)$120,000.
• E)None of these.

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Definitions:

Clayton Act Section 3

Part of U.S. antitrust law that prohibits exclusive dealings and tying arrangements where they may substantially lessen competition or tend to create a monopoly.

Tying Agreement

A commercial arrangement whereby the seller conditions the sale of one product on the buyer's agreement to purchase another, separate product.

Smith-Lever Act

A 1914 United States legislation that established a system of cooperative extension services, connected to the land-grant university system, to disseminate information about agriculture, home economics, public policy/government, leadership, 4-H, economic development, and many other related subjects.

Monopoly Power

The ability of a company or entity to control the market for a particular good or service, enabling them to set prices or terms of sale without competition.