Steve and Kay Briar, U.S. citizens, were married for the entire 2017 calendar year. In 2017, Steve gave a $34,000 cash gift to his sister. The Briars made no other gifts in 2017. They each signed a timely election to treat the $34,000 gift as made one-half by each spouse. Disregarding the applicable credit amount and estate tax consequences, what amount of the 2017 gift is taxable to the Briars?
A. $34,000
B. $28,000
C. $6,000
D. $0
Answer: C. $6,000
Business
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