Match Each Statement with the Correct Choice

question 90

Multiple Choice

Match each statement with the correct choice. Some choices may be used more than once or not used at all.
-Can produce income tax, ad valorem property tax, and estate tax savings.

• A)Revocable trusts
• B)Income in respect of a decedent (IRD)
• C)Conservation easement
• D)Discretionary extension of time to pay estate tax (§ 6161)
• E)Estate freeze-corporations
• F)Extension of time involving interest in closely held business (§ 6166)
• G)Special use valuation as to certain realty (§ 2032A)
• H)Depreciation recapture potential eliminated
• I)Alternate valuation date (§ 2032)
• J)Election to split gifts (§ 2513)
• K)No correct choice is given

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Definitions:

Retirement Income

Income that a person receives after retiring from active employment, which can include pensions, Social Security benefits, and returns from investments.

Perpetual Scholarship

A scholarship grant maintained indefinitely, often funded by an endowment that generates interest to cover its cost.

Compounded Annually

An interest calculation method where the interest is added to the principal at the end of each year, with the total becoming the principal for the next year.

Compounded Annually

A method where interest is calculated once per year and added to the principal sum.