Big Mike, a very generous man, has given his granddaughter, Jordan, a gift equal to...
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Big Mike, a very generous man, has given his granddaughter, Jordan, a gift equal to $11,180,000 million this year (2018) and paid any relevant taxes. He now wants to give his grandson, Colin, a gift of $11.2 million plus the annual exclusion of $15.000 on his birthday and wants to know what his total cash outflow will be for the gifts to Colin and any other related taxes. The amount of his total cash outflows related to the gift to Colin is? Assume this all happens in 2018 and use 2018 exemption amounts. $11.215 million OA - $14.480 million OB. - $16.270 million oc . 521.967 million OD
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