Question Completion Status: Suppose the facts from question 54, however, Jeff and his wife Mary agree to split these gifts. The value of the gifts will be reduced by half. What is the total taxable gifts made? a $131,500 6.$112,500 c. $144,000 d $127,500 QUESTION 56 George and Elizabeth pait or their grandson Rex's college tuition by writing a check to the University of Virginia for $60,000. They also paid for their granddaug Thy's wedding by giving her a check for $50,000. George and Elizabeth agree to split all the gifts. How mu able gifts wil Je and Elizabeth have made? Cage and Elizabeth will have made $25,000 each in taxable gifts b. George and Elizabeth will have made $40,000 each in taxable gifts; c. George and Erin will have made $10,000 each in taxable gifts: d. George and Elizabeth will have made $15,000 each in taxable gifts. QUESTION 57 A trust in which the trustee either must or may accumulate income and may distribute corpus or make gifts to charities is known as a complex trust True False Question Completion Status: Suppose the facts from question 54, however, Jeff and his wife Mary agree to split these gifts. The value of the gifts will be reduced by half. What is the total taxable gifts made? a $131,500 6.$112,500 c. $144,000 d $127,500 QUESTION 56 George and Elizabeth pait or their grandson Rex's college tuition by writing a check to the University of Virginia for $60,000. They also paid for their granddaug Thy's wedding by giving her a check for $50,000. George and Elizabeth agree to split all the gifts. How mu able gifts wil Je and Elizabeth have made? Cage and Elizabeth will have made $25,000 each in taxable gifts b. George and Elizabeth will have made $40,000 each in taxable gifts; c. George and Erin will have made $10,000 each in taxable gifts: d. George and Elizabeth will have made $15,000 each in taxable gifts. QUESTION 57 A trust in which the trustee either must or may accumulate income and may distribute corpus or make gifts to charities is known as a complex trust True False