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Matthew and Addison are married and live in Michigan, a common-law state. For the holidays Addison gave cash gifts of $41,250 to each of her
Matthew and Addison are married and live in Michigan, a common-law state. For the holidays Addison gave cash gifts of $41,250 to each of her two sons, and Matthew gave $41,500 to his daughter. What is the amount of Addison's taxable gifts if Matthew and Addison opt to gift-split?
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