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What is the amount of the taxable gifts

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Question - This year Samantha gave each of her three nephews birthday gifts of $11,200 in cash. At Christmas, Samantha gave each of her three nephews Christmas gifts of an additional $6,480 in cash. What is the amount of the taxable gifts, if any, made by Samantha this year?

a. 8,040

b. 31,800

c. 53,040

d. Zero- none of the gifts exceed the annual exclusion

e. None of the choices are correct.

Reference no: EM132479710

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