Jayden gave Olivia a ring when she agreed to marry him. The ring is a family heirloom valued at $68,000. What is the amount of the taxable gift?
A. $53,000.
B. $0-the marital deduction offsets the gift as long as Jayden and Olivia are married by year-end.
C. $68,000.
D. $0-this transfer is not gratuitous.
E. None of the choices are correct.
Answer: A
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Answer the following statement true (T) or false (F)
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