CPA Tcp Quiz
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INDIVIDUAL TAX COMPLIANCE AND PLANNING
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An individual taxpayer wants to start a gifting program in 2026 to benefit three adult children and two grandchildren. The taxpayer has not used any lifetime exemption to date. Assume the annual gift exclusion is $19,000 per donee, the lifetime exemption is $13,610,000, and the federal gift tax rate is 40% on taxable gifts in excess of available exemption. The taxpayer wants to maximize tax-free transfers each year without using any lifetime exemption. What is the most tax-efficient way to utilize the annual gift exclusion?
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