Question: Jayden gave Olivia a ring when she agreed to marry him. The ring was purchased at Tiffany s and valued at $ 6 8 ,

Jayden gave Olivia a ring when she agreed to marry him. The ring was purchased at Tiffanys and valued at $68,000. What is the amount of the taxable gift?
$0- the marital deduction offsets the gift as long as Jayden and Olivia are married by year end.
$0- this transfer is not gratuitous.
$50,000.
$68,000.
None of the choices are correct.

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