The Estate and Gift Taxes Share Several Common Features

question 105

Multiple Choice

The estate and gift taxes share several common features. Which of the following characteristics are common to both the estate and gift taxes?

• A) A unified credit and a marital deduction.
• B) A charitable deduction and an annual exclusion.
• C) A gift-splitting election and a deduction for income taxes paid by the fiduciary.
• D)A charitable deduction and the unused spousal exemption equivalent.
• E)All of these are characteristics common to both the gift and the estate tax.

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Definitions:

Labor-market Discrimination

Unfair treatment of workers based on personal characteristics unrelated to their job performance or skills, such as race, gender, or age.

Racial Minority

A group of people identified by their race who make up a smaller percentage of the total population than the majority group.

Labor Market

The supply of available workers in relation to available work.

Wages

The monetary compensation paid by employers to employees for their labor, typically calculated on an hourly, daily, or piecework basis.