Burt and Lisa Are Married and Live in a Common

question 103

Multiple Choice

Burt and Lisa are married and live in a common law state.Burt wants to make gifts to their four children in 2016.What is the maximum amount of the annual exclusion they will be allowed for these gifts?

• A)$14,000.
• B)$28,000.
• C)$56,000.
• D)$112,000.
• E)None of these.

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Definitions:

Total Surplus

The sum of consumer surplus and producer surplus in a market, indicating the total benefits received by all parties involved in transactions.

Ugandan

Relating to Uganda or its people, culture, and geography.

Coffee

A drink produced from brewing the roasted seeds of the Coffea plant's berries, known as coffee beans.

Consumer Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.