Which of the Following Statements Is True Regarding the Filing

question 18

Multiple Choice

Which of the following statements is true regarding the filing of a gift tax return?

• A)Spouses using the gift-splitting provision do not have to file a return unless the gifts exceed $30,000.
• B)A gift tax return must be filed when a gift to a church exceeds the annual exclusion.
• C)A gift tax return is due within five months of making the gift.
• D)No gift tax return is required to be filed for gifts between spouses.

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Definitions:

Acidity

A measure of the concentration of hydrogen ions in a solution, often associated with the degree to which a substance is able to donate a proton.

Phenol

An aromatic compound consisting of a benzene ring bonded to a hydroxyl group (-OH).

Ethanol

A volatile, flammable, clear liquid also known as alcohol, used as a solvent, in the manufacture of various chemicals, and as an intoxicant.

Acetic Acid

A weak carboxylic acid with the formula CH3COOH, known for its sour taste and pungent smell, used in vinegar.