Match Each Statement with the Correct Choice

question 70

Multiple Choice

Match each statement with the correct choice. Some choices may be used more than once or not at all.
-Election to split gifts (§ 2513)

• A)In the current year, Debby, a widow, dies. Two years ago she inherited a large amount of wealth from her brother.
• B)Death does not defeat an owner's interest in property.
• C)Exists only if husband and wife are involved.
• D)A type of state tax on transfers by death.
• E)Must decrease the amount of the gross estate.
• F)Annual exclusion not allowed.
• G)Cumulative in effect.
• H)Right of survivorship present as to type of ownership.
• I)Avoids the terminable interest rule of the marital deduction.
• J)Exemption equivalent.
• K)Bypass amount.
• L)No correct match provided.

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Definitions:

Diversity Immigrants

Immigrants selected through a lottery system aimed at diversifying the immigrant population of a country, notably used by the United States.

H1-B Provision

A provision of the U.S. immigration law that allows the annual entry of 65,000 high-skilled workers in “specialty occupations” such as science, R&D, and computer programming to work legally and continuously in the United States for six years.

High-Skilled Workers

High-skilled workers are individuals who have advanced qualifications, training, or expertise, making them capable of performing complex tasks.

Specialty Occupations

Jobs or professions that require the application of specialized knowledge, often necessitating a higher degree of education or experience.