Identify Which of the Following Statements Is True

question 3

Multiple Choice

Identify which of the following statements is true.

• A)If the annual exclusion for gifts is not used in the current year, the unused portion can be carried forward to subsequent years.
• B)Individuals may not give more than $14,000 per person in gifts each year before being taxed on the transfer.
• C)For transfer tax purposes, both the charitable contribution deduction and the marital deduction are unlimited.
• D)All of the above are false.

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Definitions:

Primary Prevention

Actions or strategies aimed at preventing a disease or injury before it occurs.

Television Ad Campaigns

Advertising initiatives executed through TV channels meant to promote products, services, or ideas to a broad audience.

Electroconvulsive Therapy

A psychiatric treatment in which electric currents are passed through the brain, intentionally triggering a brief seizure to treat certain mental disorders.

Psychosurgery

A medical procedure that involves operating on the brain to treat mental illness or abnormal behavior, now rare due to advancements in psychiatric medication and therapies.