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This year Samantha gave each of her three nephews birthday gifts of $10,000 in cash. At Christmas, Samantha gave each of her three nephews Christmas gifts of an additional $5,000 in cash. What is the amount of the taxable gifts, if any, made by Samantha this year?

A. $6,000

B. $45,000

C. Zero – None of the gifts exceed the annual exclusion.

D. $32,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M959723

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