Barry and his wife Mary have accumulated over $9 million during their 51 years of marriage. They have ten children and twelve grandchildren. How much money can Barry and Mary gift to their children in 2019 without any gift tax liability? Total gift amount without any gift tax liability

Barry and his wife Mary have accumulated over $9 million during their 51 years of marriage. They have ten children and twelve grandchildren. How much money can Barry and Mary gift to their children in 2019 without any gift tax liability? Total gift amount without any gift tax liability

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter6: Business Expenses

Section: Chapter Questions

Problem 67P

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Question

Barry and his wife Mary have accumulated over $9 million during their 51 years of marriage. They have ten children and twelve
grandchildren.
How much money can Barry and Mary gift to their children in 2019 without any gift tax liability?
Total gift amount without any gift tax liability

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