Stacey Inherits Unimproved Land (Fair Market Value of $6 Million)

question 170

Multiple Choice

Stacey inherits unimproved land (fair market value of $6 million) from her father on June 1,2014.Stacey disclaims her interest in the property as follows: one-third on December 1,2014;one-third on January 3,2015;and the remaining one-third on May 31,2015.In all cases,the disclaimers pass the interest to her son (the next heir under state law) .The Federal gift tax applies to Stacey for:

• A)All of the disclaimers.
• B)The disclaimer made in 2014.
• C)The May 31,2015 disclaimer.
• D)All of the disclaimers made in 2015.
• E)None of the disclaimers.

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