Which of the Following Is Not a Test for an Interest

question 39

Multiple Choice

Which of the following is not a test for an interest to qualify for the marital deduction?

• A)The property must be included in the decedent's gross estate.
• B)If a QTIP transfer is made, the spouse must be entitled to all of the income at least annually for life.
• C)The interest conveyed must not be a nondeductible terminable interest.
• D)All of the above are required.

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Definitions:

Transfer

The act of moving assets, securities, or other valuables from one party to another.

Lockbox System

A service provided by banks to companies for the collection of payments from customers, involving the use of a special post office box to speed up the deposit process.

Treasury Bills

Short-term government securities issued at a discount from the face value and mature in a year or less, used to raise funds and manage the money supply.