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Question Assume that Louie would like to gift his granddaughter Emily an additional $ 2 0 , 0 0 0 after her wedding. Which type

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Assume that Louie would like to gift his granddaughter Emily an additional $ $20, 000$ after her wedding. Which type of tax will be due and payable at the time of the gift to Emily for her wedding?

A $.$ Generation $-$ skipping transfer tax only

B $.$ No tax will be due

C $.$ Gift tax only

D $.$ Both gift and generation $-$ skipping transfer tax

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