Which of the following statements is false regarding federal gift taxes?
A) Monetary gifts of any amount given to children are not taxed.
B) There is no gift tax on payments for medical or educational costs if made directly to the provider of the service.
C) You can give your spouse an unlimited amount and not pay gift taxes.
D) If you and your spouse have one child, he or she can be given $30,000 a year and there will be no gift taxes.
Correct Answer:
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