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Your client and her husband agreed to split the following lifetime cash gifts: Total Gifts to Son 2014:$90,000 2022: $82,000 Total Gifts to Daughter 2014;
Your client and her husband agreed to split the following lifetime cash gifts:
Total Gifts to Son 2014:$90,000 2022: $82,000
Total Gifts to Daughter 2014; $70,000 2022: $102,000
How much of your client's applicable credit is used by the 2022 gifts only? Use the Unified Federal Estate and Gift Tax Rates table.
A) $11,080
B) $58,800
C) $24,400
D) $16,320
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