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Identify which of the following statements is true. A. The gift tax exclusion is available only for a gift of a present interest B. A

Identify which of the following statements is true. A. The gift tax exclusion is available only for a gift of a present interest B. A purpose of the annual exclusion is to eliminate the necessity of accounting for and reporting small gifts such as those made for weddings and Christmas. C. A present interest is an unrestricted right to the immediate use, possession, or enjoyment of property or the income from property. D. All of the above are true.

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