Property Can Be Transferred Within the Family Group by Gift

question 63

Multiple Choice

Property can be transferred within the family group by gift or at death.One motivation for preferring the gift approach is:

• A)To take advantage of the per donee annual exclusion.
• B)To avoid a future decline in value of the property transferred.
• C)To take advantage of the higher unified transfer tax credit available under the gift tax.
• D)To shift income to higher bracket donees.
• E)None of the above.

---

Definitions:

Common Denominator

The shared multiple of the denominators of two or more fractions, allowing them to be compared or combined.

Sum

The result of adding two or more numbers or quantities together.

Product

The result of multiplying two or more quantities together.

Gigabytes

A unit of digital information storage equal to 1,024 megabytes or roughly one billion bytes.