Maximum amount of annual exclusion, Finance Basics

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Maximum amount of annual exclusion

Mary creates an irrevocable trust with Crummey withdrawal powers. Sam, her husband, is the Trustee of the trust. Mary's 3 children are the trust beneficiaries. What is the maximum amount of annual exclusion gifts Mary's mother may transfer into this trust in 2006?

A. $12,000

B. $48,000

C. $50,000

D. Insufficient information has been provided.

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Finance Basics: Maximum amount of annual exclusion

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