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2.5 pts Question 38 James is single and wishes to remove assets from his estate through gifts to his descendants. He has one son who

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2.5 pts Question 38 James is single and wishes to remove assets from his estate through gifts to his descendants. He has one son who is married and has two children. How much money can James gift this year to his son's family (which consists of four people without having any effect on his estate and gift tax (ie, using the annual gift exclusion)? $60,000 $15,000 $120.000 $0

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