The Ellie Trust, a Calendar Year Entity, Wants to Make

question 39

Multiple Choice

The Ellie Trust, a calendar year entity, wants to make a gift to a charity that is deductible on its year 1 Form 1041. The gift must be made by Ellie:

• A) During year 1.
• B) During year 1 or 2.
• C) On or before April 15, year 2.
• D) On or before September 30, year 2.

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Definitions:

Enforceable

Describes a legal agreement or provision that can be upheld by a court or other legal authority.

Commit a Crime

The act of performing a behavior that is forbidden by law and punishable by the government.

Tort

Tort is a legal term referring to a civil wrong that causes someone else to suffer loss or harm, resulting in legal liability for the person who commits the tortious act.

Void

Describes a contract or legal agreement that has no legal force from the outset and cannot be enforced.