Determine the annual exclusion in each of the following unrelated scenarios: Craig gives $14,000 in cash to
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Question:
Determine the annual exclusion in each of the following unrelated scenarios:
Craig gives $14,000 in cash to each of his 10 children.
John gives $20,000 in cash to each of his 10 children.
Jay establishes a $1,000,000 insurance policy that will be paid equally to his 10 children upon his death.
Terrence has a $500,000 piece of real estate property in an irrevocable trust that will pay income to his 10 children at the discretion of the trustee
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