Which if any of the following is not a characteristic

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Income Tax Fundamentals 2020
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Chapter 8 / Exercise 8
Income Tax Fundamentals 2020
Altus-Buller/Whittenburg
Expert Verified
89. Which, if any, of the following is nota characteristic of the Federal estate tax?a. A foreign tax credit is available.b. A credit for tax on prior transfers may be available.c. Post-1976 taxable gifts need to be considered.d. A charitable deduction is available.e. None of the above.ANSWER: RATIONALE: Pre-1977 taxable gifts need not be considered.
e
POINTS: 1DIFFICULTY: ModerateLEARNING OBJECTIVES: SCPE.HRMY.15.LO: 18-03 - LO: 18-03SCPE.HRMY.15.LO: 18-07 - LO: 18-07SCPE.HRMY.15.LO: 18-08 - LO: 18-08NATIONAL STANDARDS: United States - BUSPORG: AnalyticSTATE STANDARDS: United States - AK - AICPA: FN-ReportingKEYWORDS: Bloom's: ComprehensionOTHER: Time: 5 min.90. Which of the following is nota characteristic of boththe Federal gift tax andthe Federal estate tax?
a
POINTS: 1DIFFICULTY: ModerateLEARNING OBJECTIVES: SCPE.HRMY.15.LO: 18-02 - LO: 18-02SCPE.HRMY.15.LO: 18-03 - LO: 18-03NATIONAL STANDARDS: United States - BUSPORG: AnalyticSTATE STANDARDS: United States - AK - AICPA: FN-ReportingKEYWORDS: Bloom's: ComprehensionOTHER: Time: 5 min.91. In determining the Federal gift tax on a current gift:
c
POINTS: 1
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Income Tax Fundamentals 2020
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Chapter 8 / Exercise 8
Income Tax Fundamentals 2020
Altus-Buller/Whittenburg
Expert Verified
Chapter 18 - The Federal Gift and Estate TaxesDIFFICULTY: ModerateLEARNING OBJECTIVES: SCPE.HRMY.15.LO: 18-02 - LO: 18-02NATIONAL STANDARDS: United States - BUSPORG: AnalyticSTATE STANDARDS: United States - AK - AICPA: FN-ReportingKEYWORDS: Bloom's: ComprehensionOTHER: Time: 5 min.92. Concerning the formula for the Federal estate tax, which, if any, of the following statements is correct?
d

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