Classify Each Statement Appearing Below

question 140

Short Answer

Classify each statement appearing below.
a. No taxable transfer occurs
b. Gift tax applies
c. Estate tax applies
-Darlene holds a general power of appointment over the income from a trust created by her brother. Darlene dies during the year without having exercised the power. The income is distributed to children of the brother in accordance with the terms of the trust instrument.

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Definitions:

Cognitive Processes

Refers to the mental actions or operations involved in acquiring, understanding, and utilizing knowledge, such as perception, memory, and reasoning.

Vygotsky

A Russian psychologist known for his work on cognitive development, particularly the socio-cultural theory that children learn through interactions with their surrounding culture and people.

Scribner

Likely refers to an individual or concept in cognitive sciences but without additional context cannot be accurately defined.

Workers

Individuals engaged in a particular activity or employment, especially those involved in manual or industrial labor or those performing tasks.