Property Can Be Transferred Within the Family Group by Gift

question 27

Multiple Choice

Property can be transferred within the family group by gift or at death.One motivation for preferring the gift approach is:

• A)To take advantage of the higher unified transfer tax credit available under the gift tax.
• B)To avoid a future decline in value of the property transferred.
• C)To take advantage of the per donee annual exclusion.
• D)To shift income to higher bracket donees.
• E)None of these.

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Definitions:

Negative Reinforcement

A behavioral concept where the removal of an unfavorable event strengthens the behavior that led to its removal.

Extinction

In the context of behavior, the gradual reduction and eventual elimination of a conditioned response.

Successive Approximations

This is a method in behavioral psychology where behaviors are gradually trained by rewarding approximations of the desired behavior.

Positive Reinforcement

A technique in behavior management that reinforces desired behaviors by rewarding them, encouraging their repetition.