Frank and his wife, Joanie, have no children. Frank's sister, Darlene, is unmarried and has no children. Frank and

Darlene are very close to their sister Jennifer's daughter and would like to help with her college education. All of the

resources to fund the gift would come from Frank's assets. His wife would consent to the gift, but would not participate

financially. Darlene would also be unable to participate financially, but would also join in the gifting. What is the total

amount of annual gift tax exclusion that would be available in 2018 for this gift?

Select one:

a. $15,000 (Frank's exclusion only since all assets are his.)

b. $45,000 (Frank's, Joanie's and Darlene's exclusions since all are consenting/joining in the gift.)

c. An unlimited amount, since this gift is intended to be used for college.

d. $30,000 (Frank's and Joanie's combined exclusions since they are married.)

Please explain why you chose the correct answer or provide a reference.

Thank you.