Indicate by a T If the Following Results in a Taxable

question 18

Short Answer

Indicate by a T if the following results in a taxable gift and an N if it does not result in a taxable gift.
-$60,000 value of a remainder interest in a trust created this year

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Definitions:

Personality Traits

Enduring characteristics that describe an individual's behavior, attitude, and emotions.

Phrenologist

A practitioner of phrenology, a now-discredited theory that linked the shape of an individual's skull with their personality traits and mental abilities.

Business-Owner

An individual who legally owns and operates a business, taking on financial risks with the aim of earning profits.

Loyal

Describes a quality of being faithful and devoted to someone or something.