Question: Your client and her husband agreed to split the following lifetime cash gifts: Total Gifts to Son Total Gifts to Daughter 2014 $90,000 $70,000 2021

Your client and her husband agreed to split the following lifetime cash gifts:

 

 Total Gifts to SonTotal Gifts to Daughter
2014$90,000$70,000
2021$80,000$100,000

 

How much of your client's applicable credit is used by the 2021 gifts only? Use the Unified Federal Estate and Gift Tax Rates table.

 

A) $16,320

B) $24,400 

C) $58,800

D) $11,080


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