問題1
Which of the following transactions is a taxable gift for federal gift tax purposes?
Which of the following transactions is a taxable gift for federal gift tax purposes?
正確答案: D
問題2
A father died leaving his property equally to his wealthy son and his poor daughter. The son wishes to disclaim his share of the inheritance so that it will pass to his sister without his incurring any gift tax liability. In this situation, all the following acts on the part of the son are required EXCEPT:
A father died leaving his property equally to his wealthy son and his poor daughter. The son wishes to disclaim his share of the inheritance so that it will pass to his sister without his incurring any gift tax liability. In this situation, all the following acts on the part of the son are required EXCEPT:
正確答案: C
問題3
All the following will be brought back into the donor's gross estate for federal estate tax purposes EXCEPT
All the following will be brought back into the donor's gross estate for federal estate tax purposes EXCEPT
正確答案: D
問題4
To determine whether a taxable gift has been made, the Treasury Regulations require that there must initially be a definite finding that the
To determine whether a taxable gift has been made, the Treasury Regulations require that there must initially be a definite finding that the
正確答案: D
問題5
In which of the following situations will the grantor be taxed on income from trust property.
1.The grantor of a trust gives one of the trust beneficiaries the right to add or delete beneficiaries.
2.An adverse party to the grantor holds the power to determine the timing of trust distributions to the beneficiaries.
In which of the following situations will the grantor be taxed on income from trust property.
1.The grantor of a trust gives one of the trust beneficiaries the right to add or delete beneficiaries.
2.An adverse party to the grantor holds the power to determine the timing of trust distributions to the beneficiaries.
正確答案: B
問題6
All the following powers held by the grantor of an irrevocable trust will cause the trust assets to be brought back into the estate of the grantor EXCEPT the power to
All the following powers held by the grantor of an irrevocable trust will cause the trust assets to be brought back into the estate of the grantor EXCEPT the power to
正確答案: B
問題7
All the following statements concerning qualification of property for the federal estate tax marital deduction are correct EXCEPT:
All the following statements concerning qualification of property for the federal estate tax marital deduction are correct EXCEPT:
正確答案: C
問題8
A wife owns a $100,000 life insurance policy on her husband's life. She has named her son the revocable beneficiary. Which of the following statements concerning the life insurance is (are) correct?
1.At the husband's death, the interpolated terminal reserve of the policy is a gift to the son.
2.The annual increase in the cash value is a gift to the son.
A wife owns a $100,000 life insurance policy on her husband's life. She has named her son the revocable beneficiary. Which of the following statements concerning the life insurance is (are) correct?
1.At the husband's death, the interpolated terminal reserve of the policy is a gift to the son.
2.The annual increase in the cash value is a gift to the son.
正確答案: B
問題9
Which of the following statements concerning charitable remainder annuity trusts is correct?
Which of the following statements concerning charitable remainder annuity trusts is correct?
正確答案: B
問題10
Among the assets in a decedent's gross estate is stock in a closely held corporation that was left to a nephew. The interest passing to the nephew is required to bear the burden of all estate taxes and expenses. The relevant facts about this estate are:
*Adjusted gross estate $1,200,000
*Fair market value of stock in the
*closely held corporation 500,000
*Administration and funeral expenses 25,000
*State inheritance taxes 40,000
*Federal estate taxes 160,000
What amount of closely held corporate stock may be redeemed under IRC Section 303 so that the redemption will be treated as a sale or exchange rather than a dividend distribution?
Among the assets in a decedent's gross estate is stock in a closely held corporation that was left to a nephew. The interest passing to the nephew is required to bear the burden of all estate taxes and expenses. The relevant facts about this estate are:
*Adjusted gross estate $1,200,000
*Fair market value of stock in the
*closely held corporation 500,000
*Administration and funeral expenses 25,000
*State inheritance taxes 40,000
*Federal estate taxes 160,000
What amount of closely held corporate stock may be redeemed under IRC Section 303 so that the redemption will be treated as a sale or exchange rather than a dividend distribution?
正確答案: D