Matthew and Addison are married and live in Michigan, a common-law state. For the holidays Addison gave cash gifts of $40,000 to each of her two sons, and Matthew gave $40,000 to his daughter. What is the amount of Addison's taxable gifts if Matthew and Addison opt to gift-split?
A. $10,000.
B. $45,000
C. $15,000.
D. $18,000.
E. None of the choices are correct.
Answer: C
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