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Problem - Andrew and Brianna are married and live in Texas, a community property state. For their birthdays this year Andrew gave cash gifts of $20,000 to each of his two daughters, and Brianna gave $30,000 to her niece. What is the amount of Andrew's taxable gifts?

A. $1,000

b. $14,000

c. $28,000

d. zero if Andrew and Brianna elect to split gifts.

e. None of these.

Accounting Basics, Accounting

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