Will and Grace, who are married to each other, made the following gifts in 2022:

Will gave their son, Jack, a car worth $4,000 owned as community property. Will also gave Jack his stamp collection (separate property) valued at $60,000.

Will gave his brother, Elliott, $20,000 of Wills separate property so Elliott could purchase a new home.

Will gave his sister, Karen, $4,000 in cash from his and Graces joint checking account which consists only of community property. He also gave Karen a piece of land he purchased before his marriage to Grace, valued at $49,000.

Assuming Grace did not want to split gifts, what is Wills total taxable gifts after taking into consideration any available deductions or exclusions?

$85,000

$88,000

$130,000

$138,000