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#8 pg. 7. Matthew and Addison are married and live in Michigan, a common-law state. For the holidays Addison gave cash gifts of $30,000 to
#8 pg. 7. Matthew and Addison are married and live in Michigan, a common-law state. For the holidays Addison gave cash gifts of $30,000 to each of her two sons, and Matthew gave $32,000 to his daughter. What is the amount of Addison's taxable gifts if Matthew and Addison opt to gift split?
A. $58,000 B. $8,000 C. $16,000 D. $4,000 E. None of these
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