Which of the Following Statements Relating to the Federal Gift

question 214

Multiple Choice

Which of the following statements relating to the Federal gift tax is incorrect?

• A) The deemed paid credit allowed for a prior taxable gift cannot be less than the gift tax that was actually paid.
• B) The issuance of an effective disclaimer by an heir will pass the property to another without being subject to the Federal gift tax.
• C) The annual exclusion is not available for gifts of future interests.
• D) Up to 5 years of annual exclusions can be available for gifts involving § 529 plans (qualified tuition programs).
• E) None of the above.

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