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AAFM Exam CTEP Topic 4 Question 54 Discussion

Actual exam question for AAFM's CTEP exam
Question #: 54
Topic #: 4
[All CTEP Questions]

In US, GST exemption limit for 2013 is _______________ and the Estate and Gift tax for the same year is __________.

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Suggested Answer: B

by Mattie at Sep 18, 2024, 01:56 AM

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Chuck
5 months ago
Hmm, I'm not sure. I heard some people say it's Nil for Estate Tax and 35% for Gift tax only.
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Anjelica
5 months ago
I believe it's actually $5,250,000 for the exemption limit and 40% for the tax rate.
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Bernardine
5 months ago
Wait, so there's no Estate Tax but there's a Gift Tax? That's just confusing. I'm going to have to go with option C, even if it's just a wild guess.
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Miriam
5 months ago
Wow, this question is straight out of a tax law textbook. I'm going to go with option D since it seems the most specific.
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Verona
5 months ago
Haha, I can't believe they're asking about the GST exemption limit. Who even knows that off the top of their head? Option A sounds good to me.
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Rosio
4 months ago
Great, let's go with A) $5,000,000 ; 35% then.
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Huey
4 months ago
I agree, A) $5,000,000 ; 35% seems like the correct answer.
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Karina
4 months ago
Yeah, that sounds right to me.
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Lashawnda
5 months ago
I think it's A) $5,000,000 ; 35%
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Chuck
5 months ago
I think the GST exemption limit for 2013 is $5,000,000 and the Estate and Gift tax is 35%.
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Marge
5 months ago
I think option B is the correct answer. The GST exemption limit for 2013 is $5,250,000 and the Estate and Gift tax is 40%.
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Brandon
5 months ago
User 2
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Brent
5 months ago
User 1
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