Suzanne and philip are married and have a 9-year old, Ask an Expert

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Suzanne and Philip are married and have a 9-year old grandson, Basil. They want to contribute to a § 529 plan on behalf of Basil's's education. For 2009, what is the maximum amount they can transfer to the plan without making a taxable gift? Assume Basil will be attending a 5 year university.

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