In March of the current year, H transferred $200,000 to Daughter and $200,000 to Son. In July of the same year, H's wife transferred $5,000 to Son. No other gifts were made. H and his wife elected to split the gifts on their gift tax returns. What is the amount of current-year taxable gifts made by H and H's wife?
A. $174,500 $174,500
B. $188,500 $188,500
C. $344,691 $4,309
D. $349,000 $0
Answer: A. $174,500 $174,500
Business
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