Chapter 25 Quiz 3 - 1 award 1 out of 1.00 point A transfer of cash to a bank account held in joint tenancy with the right of survivorship is not a

Chapter 25 Quiz 3 - 1 award 1 out of 1.00 point A transfer...

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1.award:1 out of1.00 pointA transfer of cash to a bank account held in joint tenancy with the right of survivorship is not a completed gift. TrueFalse 2.award:1 out of1.00 pointA withdrawal of money from a bank account held in joint tenancy with the right of survivorship may constitute a completed gift. 3.award:1 out of1.00 pointWhen a gift-splitting election is made, gifts made by either spouse during the year will be treated as if each spouse made one-half of the transfer. 4.award:1 out of1.00 pointThe gift-splitting election only applies to gifts made by taxpayers who reside in community property states. 5.award:1 out of1.00 pointA terminable interest in property is any interest that terminates during the current year. TrueFalse 6.
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award: 1 out of 1.00 point A gift tax return does not need to be filed unless the taxpayer has made current gifts in excess of the unified credit.
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