Which of the Following Transactions Is a Taxable Gift (Before

question 57

Multiple Choice

Which of the following transactions is a taxable gift (before applying the unified credit) ?

• A)Christian transfers $5,000 to his friend Crystal
• B)Carmen gives $5,000 in stocks to her church
• C)Yamile gives $30,000 to her husband,Jose.
• D)Jessica transfers $30,000 into an irrevocable trust for the benefit of her two children.

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Definitions:

Third Genders

A category recognized in some cultures that encompasses individuals who do not identify exclusively as either male or female, acknowledging a spectrum of gender identities beyond the binary.

Two-Spirit

A term used by some Indigenous North American cultures to describe a person who embodies both masculine and feminine spirits, often seen as a distinct gender identity.

Hijras

A traditional third gender or transgender community in South Asia, often described as eunuchs.

Non-Western Cultures

Cultures that originate outside the Western world, encompassing a diverse range of traditions, values, and practices.