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How much can sly transfer to his children the year

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Sly is a widower and wants to make annual gifts of cash to each of his four children and six grandchildren.

Required:

Problem 1: How much can Sly transfer to his children this year if he makes the maximum gifts eligible for the annual exclusion?

Problem 2: What is the amount of the total transfer if Sly is married and elects gift-splitting, assuming his spouse makes no other gifts?

Reference no: EM132959791

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