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4 pts 5. For Christmas, Chris gave a car worth $40,000 to Jill and a cabin worth $53,000 to Bailey. Chris is married to Jane

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4 pts 5. For Christmas, Chris gave a car worth $40,000 to Jill and a cabin worth $53,000 to Bailey. Chris is married to Jane and they elect to split gifts. Has Chris made any taxable gifts and, if so, in what amounts? Show calculations. ots

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