Which of the Following Statements Is(are)true for Both Gratuitous and Testamentary

question 5

Multiple Choice

Which of the following statements is(are) true for both gratuitous and testamentary transfers?

• A) An applicable credit of up to $14,000 per donee per year reduces the tax on any transfer.
• B) An annual exclusion offsets any transfer up to $14,000.
• C) An election can be made to split a transfer between spouses.
• D) A charitable and a marital deduction are allowed in computing the taxable transfer.
• E) All of the choices are true.