American College Exam HS330 Topic 1 Question 64 Discussion

Actual exam question for American College's HS330 exam

Question #: 64
Topic #: 1

All the following statements concerning the gift and estate tax chartiable deduction are correct EXCEPT:

AIt is possible for a charitable contribution made during the donor life time to generate both income and transfer tax deductions for the donor.

BIf the donor retains an interest in property contributed to a qualified charity during life time, the value of the property may be included in the donor gross estate.

CAn estate tax charitable deduction is allowed for the full value of property transferred to a qualified charity but only if the property is included in the donor gross estate.

DA donor is denied a charitable deduction for property that passes to a qualified charity as the result of a qualified disclaimer if the donor original transfer was to a no charitable donee.

Show Suggested Answer

Suggested Answer: D

by Ernie at Jan 05, 2023, 09:37 AM

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