This year Samantha gave each of her three nephews birthday gifts of $10,000 in cash. At Christmas, Samantha gave each of her three nephews Christmas gifts of an additional $5,000 in cash. What is the amount of the taxable gifts, if any, made by Samantha this year?
A) $3,000
B) $32,000
C) $45,000
D) zero - none of the gifts exceed the annual exclusion.
E) None of these
Correct Answer:
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