Identify Which of the Following Statements Is False

question 105

Multiple Choice

Identify which of the following statements is false.

• A)The gift-splitting election will apply to all transfers made during the portion of any year that the spouses electing gift splitting are married to each other.
• B)The gift-splitting election is made separately on each gift either spouse makes.
• C)Making gifts during one's lifetime helps to reduce the amount of estate taxes owed at death.
• D)In order to use gift splitting, both spouses must be U.S. citizens or residents at the time of the transfer.

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Definitions:

Les Whitbeck

A sociologist known for his research on mental health, substance abuse, and developmental issues among homeless and runaway youths.

Conflict Theory

A sociological perspective that views social life as a competition and focuses on the distribution of resources, power, and inequality.

Structural Functionalist

An approach highlighting how societal structures contribute to the overall functioning and stability of a society.

Retreatist

An individual who rejects both the cultural goals and the institutionalized means of achieving them, often withdrawing from society.