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:

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Indicators or hints found within spoken language that can help in understanding the speaker’s intentions, emotions, or truthfulness.

Nonverbal Clues

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Business Meal

A meal shared among business partners or colleagues where the primary purpose is to discuss professional matters.

Mobile Phone

A handheld electronic device that enables users to make telephone calls, send text messages, and access the internet.