An Individual Can Give Away Up to $14,000 Per Year

question 38

True/False

An individual can give away up to $14,000 per year before paying an inheritance tax to the IRS.

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Definitions:

Maternal PKU

A concern in pregnancies of women with phenylketonuria (PKU), where elevated levels of phenylalanine can lead to developmental issues in the fetus.

Homozygous Recessive

A genetic condition where an individual inherits two identical recessive alleles for a particular trait, often resulting in the expression of that trait.

Hemophilia A

A genetic disorder caused by missing or defective Factor VIII, a clotting protein, leading to excessive bleeding.

Blood-Clotting Factor

A protein in the blood plasma that is essential for the clotting process to prevent excessive bleeding.