Question: The gift - splitting election allows Multiple choice question. one spouse to include the entire gift in his or her transfers, while the other spouse

The gift-splitting election allows
Multiple choice question.
one spouse to include the entire gift in his or her transfers, while the other spouse reports zero.
both spouses to treat a gift to one child as a gift to all children, reducing the gift tax.
one spouse to treat each gift as if they made a gift of only one-half the gift amount.

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