An Income Interest in a Trust

question 52

Multiple Choice

An income interest in a trust

• A)must be established for a fixed term in years.
• B)is not eligible for the annual exclusion.
• C)must be irrevocable to be eligible for the annual exclusion.
• D)is irrevocable if the donor only controls who may receive trust income.

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Definitions:

Caring

Exhibiting kindness and concern for others.

Gametes

Reproductive cells (sperm in males and eggs in females) that carry genetic information and can fuse during fertilization to start the development of a new individual.

Zygote

The initial cell formed when a sperm cell from a male fertilizes an egg cell from a female, marking the beginning of a new organism's development.

Chromosome

One of the 46 molecules of DNA (in 23 pairs) that virtually every cell of the human body contains and that, together, contain all of the genes. Other species have more or fewer chromosomes.