Burt and Lisa are married and live in a common law state. Burt wants to make...
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?
Group of answer choices
$15,000.
$30,000.
$60,000.
$120,000.
None of these.
Homework Answers
| The annual gift exclusion amount for 2019 is $15,000 | ||
| Annual gift exclusion amount | 15000 | |
| X Number of donees | 4 | |
| X Number of donors | 2 | |
| Maximum amount of the annual exclusion | 120000 | =15000*4*2 |
| Option D $120,000 is correct | ||
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Burt and Lisa are married and live in a common law state. Burt
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