When Jim and Nina became engaged in April of this year, Jim gave Nina a ring that had a fair market value of $50,000. After their wedding in July of the same year, Jim gave Nina $75,000 in cash so that Nina could have her own bank account. Both Jim and Nina are U.S. citizens. What was the amount of Jim's current-year gift tax marital deduction?

A. $0
B. $75,000
C. $111,000
D. $125,000

Answer: B. $75,000

Business

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