Business, 02.04.2021 01:00, ComicSans10

After reading an estate planning article in a popular magazine, Ted has decided to take action to reduce his gross estate by making annual gifts to his 4 kids, 8 grandchildren, and 4 great-grandchildren. Ted has discussed the gifting strategy with his wife, Ruth, and provided it does not result in any use of her applicable gift tax credit, she has agreed to split each gift. Ted does not want to use his applicable gift tax credit either. If Ted carries the plan out for 5 years, how much can he gift in total while meeting Ruth’s requirement? (Assume the 2020 exclusion amounts.) A. $1, 200,000 B. $480,000 C. $2,400,000 D. $1, 800,000

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After reading an estate planning article in a popular magazine, Ted has decided to take action to re...