It Is Possible That a Gift Worth Less Than the Amount

question 119

True/False

It is possible that a gift worth less than the amount of the annual exclusion may have to be reported on a Federal gift tax return (Form 709).

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Definitions:

New Opening

A surgically created passage or opening, commonly known as a stoma or ostomy.

-lepsy

A suffix used in medical terms to denote a seizure or convulsion disorder, such as in epilepsy.

Seizure

A seizure is a sudden, uncontrolled electrical disturbance in the brain, leading to changes in behavior, movements, feelings, and levels of consciousness.

Drooping

The act or condition of sagging or hanging down, often used in reference to parts of the body like eyelids or flowers.