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Lina made the following transfers during the current year: $20,000 to her grandson...

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Accounting

Lina made the following transfers during the current year:
$20,000 to her grandson for his law school tuition.
$1,000 to her neighbor to help him pay a hospital bill.
A transfer of property valued at $100,000 to a GRAT. Lina retained an annuity valued at $40,000 and her daughter is the remainder beneficiary.
What is the total amount of Linas taxable gifts for the current year?
A.$44,000
B.$60,000
C.$62,000
D.$64,000

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