In the Current Year, Cesar, Who Is Single, Gives $26,000

question 16

Multiple Choice

In the current year, Cesar, who is single, gives $26,000 to each of his 20 nieces and nephews for a total property transfer of $520,000. Cesar's taxable gifts total

• A)$520,000.
• B)$260,000.
• C)$300,000.
• D)$220,000.

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