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(TCO 9) During 2012, John gave cash gifts of $20,000 to Anne (his daughter) and $4,000 to Mike (his brother). Which would be his annual
(TCO 9) During 2012, John gave cash gifts of $20,000 to Anne (his daughter) and $4,000 to Mike (his brother). Which would be his annual exclusion for Anne and Mike?
a. $12,000 for Anne and $4,000 for Mike
b. $13,000 for Anne and $4,000 for Mike
c. $20,000 for Anne and 4,000 for Mike
d. $13,000 for Anne and 13,000 for Mike
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