Henry and Harriet are married. They have never made any previous inter vivos gifts. In 2020 , they give

$90,000

to a trust which provides a life income interest to three friends. What is the proper gift taxation for that transferi\ The full

$90,000

is a taxable gift but they will owe no gift tax.\

$45,000

is a taxable gift.\ None of it is a taxable gift\ The full

$90,000

is a taxable gift on which they must pay a

40%

tax.

Henry and Harriet are married. They have never made any previous inter vivos gifts. In 2020, they give $90,000 to a trust which provides a life income interest to three friends. What is the proper gift taxation for that transfer? transcript The full $90,000 is a taxable gift but they will owe no gift tax. $45,000 is a taxable gift. None of it is a taxable gift O The full $90,000 is a taxable gift on which they must pay a 40% tax.