Which, If Any, of the Following Is a Correct Statement

question 157

Multiple Choice

Which, if any, of the following is a correct statement regarding the filing of a gift tax return (Form 709) ?

• A)A donor must file a Form 709 in the same year in which the gift was made.
• B)The due date of a Form 709 is the same as the due date of the donor's Form 1040.
• C)A Form 709 may have to be filed even though the value of the gift was less than the amount of the annual exclusion.
• D)Melody gives her husband a new Mercedes convertible for his birthday. Melody must file a Form 709 to report the gift even though no gift tax results.
• E)None of the above.

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Definitions:

Depressed

A mood disorder marked by significant and persistent feelings of sadness and hopelessness.

Electroconvulsive Therapy (ECT)

A medical treatment most commonly used for severe depression, involving electrical stimulation of the brain under anesthesia.

Severe Depression

A mental health disorder characterized by persistently depressed mood or loss of interest in activities, causing significant impairment in daily life, more intense than general depression.

Obsessive-Compulsive Disorder

A mental health disorder characterized by unwanted repetitive thoughts (obsessions) and actions (compulsions).