The Federal Gift-Splitting Election

question 140

Multiple Choice

The Federal gift-splitting election:

• A) Allows the annual exclusion of both spouses to reduce the gift tax due.
• B) Allows the exemption equivalent of both spouses to reduce the gift tax due.
• C) Is made on both spouses' Forms 709.
• D) All of these.

---

Definitions:

Copy

Copy is the operation of duplicating information or data from a source to a destination while leaving the source unchanged.

Paste

The action of inserting data or content that has been copied or cut from one location to another.

Themes Gallery

A collection or library of pre-designed themes in software applications that provide consistent visual styles and formatting options across documents.

Thumbnail

A small image or preview that represents a larger image or file, often used to make browsing or searching for content easier.