Justin and Britney, multi-millionaires,
want to make the maximum gift of cash to their two
(2) grandchildren this year, without incurring any
gift taxes on the transaction. How much can they gift?
The correct answer is c.
A donor of money and/or gifts may give up to $12,000
to as many different recipients as they desire in any
given year and not have to pay any gift taxes on those
gifts. So, a married couple can gift up to $24,000
per child each year or $48,000 to the two (2) grandchildren.