Which of the Following Statements Is True

question 84

Multiple Choice

Which of the following statements is true?

• A)If the donor does not pay the gift tax, the donee is personally liable for the tax.
• B)When a married couple elects gift splitting, each spouse is potentially liable for 50% of the gift tax.
• C)Gift tax returns are due March 15 in the year following the gift.
• D)Donors can request an automatic extension of time to pay their gift tax even when they don't request to have an income tax extension.

---

Definitions:

Property

An attribute or characteristic of an object, element, or entity, often used in programming to store and manipulate data.

Number Field

A data field designed to contain numerical entries, often used in databases and forms to ensure data consistency and facilitate calculations.

Store Values

A concept in programming where data is saved in a variable or a data storage location.

Money

A medium of exchange in the form of coins and banknotes; used to facilitate transactions for goods and services.