Question: Sara James and her son Mark set up a joint checking account, with Sara contributing $18,000 and Mark contributiong $2,000. As a result of this

Sara James and her son Mark set up a joint checking account, with Sara contributing $18,000 and Mark contributiong $2,000. As a result of this transfer, Sara has made a taxable gift of

a. $0

b. $6,000

c. $16,000

d. $18,000

*based on 2016 rate

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