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Problem 19-6 Calculating the Gift Tax [LO19-5] Barry and his wife Mary have accumulated over $7 million during their 54 years of marriage. They have

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Problem 19-6 Calculating the Gift Tax [LO19-5] Barry and his wife Mary have accumulated over $7 million during their 54 years of marriage. They have ten children and twelve grandchildren. How much money can Barry and Mary gift to their grandchildren in 2016 without any gift tax liability? Total gift amount without any gift tax liability

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