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On December 15, 2015, Amanda sends Peter, her son, a check for an amount equal to the 2503 (b) gift tax annual exclusion. a. Peter

On December 15, 2015, Amanda sends Peter, her son, a check for an amount equal to the §2503

(b) gift tax annual exclusion.

a. Peter deposits the check in his bank on December 29, 2015. The check clears Amanda’s bank on January 3, 2016. What are the gift tax consequences?

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