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.

---

Definitions:

Equitable Relationships

Relationships based on fairness and equality, where all parties are treated with respect and justice.

Child-rearing

The process of bringing up and educating children from infancy through to adulthood.

Poverty

A state of having insufficient financial resources or means of support, leading to a lack of basic needs such as food, water, shelter, education, and healthcare.

New Habitats

The creation or emergence of new living environments for organisms, often due to environmental changes, human activity, or natural processes.