Bev owns approximately $13 million of assets primarily composed of a very valuable parcel of real estate and a savings account of $500,000. Bev has four grandchildren and is planning to give them each an annual gift in equal amounts. Bev can gift $56,000 in total in 2018 to her grandchildren without creating taxable gifts.
Answer the following statement true (T) or false (F)
True
The maximum gift exclusion is $15,000 per donee. 4 * $15,000 = $60,000.
Business
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