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How much property can Vasu give away

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Reference no: EM132650928

Problem - During 2019, Vasu wants to take advantage of the annual exclusion and make gifts to his 6 married children (including their spouses) and his 12 minor grandchildren.

Required -

a. How much property can Vasu give away in 2019 without creating a taxable gift?

b. How does your answer change if Vasu's wife, Coleen, elects to join in making the gifts?

Reference no: EM132650928

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