This Year Anthony Transferred $250,000 of Bonds to a Trust

question 35

Multiple Choice

This year Anthony transferred $250,000 of bonds to a trust with directions to the trustee to pay income to his son for the next 20 years. After 20 years the trust corpus would revert to Anthony. Which of the following is a true statement?

• A) Anthony has made a $250,000 gift.
• B) Anthony has made a $236,000 taxable gift.
• C) Anthony has not yet made a completed gift.
• D) Anthony has made a completed gift of the income interest only.
• E) None of the choices are true.

---

Definitions:

Popular Front

A broad coalition of different political groups, often including left-wing parties, united for a common cause or against a common enemy.

Right to Unionize

The right to unionize is the legal right granted to workers to form or join labor unions in order to negotiate collectively on matters such as wages, working conditions, and other employment terms with their employers.

First Lady Eleanor Roosevelt

A prominent American political figure, diplomat, and activist who, as the wife of President Franklin D. Roosevelt, reshaped the role of the First Lady through her active participation in American politics and human rights advocacy.

First Lady

The title given to the wife of the President of the United States or other heads of state; she often takes part in public and ceremonial duties.