A Split- Interest Gift Transfer

question 48

Multiple Choice

A split- interest gift transfer

• A) cannot qualify for a deduction if a future interest is given to a charitable organization.
• B) involves two public (charitable) organizations.
• C) qualifies for a charitable contribution deduction if the recipient charity receives a guaranteed annuity, which is a present interest.
• D) involves two present interests.

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Definitions:

Affected

Being influenced or touched by an external factor, often used to describe the impact of an event or condition on individuals or communities.

Mortification

A public relations strategy involving an apology or showing contrition by an organization after making a mistake or facing a scandal.

Admits Guilt

The act of acknowledging responsibility for a wrongdoing, often in a legal context, to demonstrate remorse or acceptance of consequences.

Postcrisis Review

The evaluation process conducted after a crisis to assess an organization's response, learn lessons, and improve future crisis management plans.