American College Exam HS330 Topic 1 Question 72 Discussion

Actual exam question for American College's HS330 exam

Question #: 72
Topic #: 1

To determine whether a taxable gift has been made, the IRS focuses on all the following factors EXCEPT:

AWas the transferred property real property or personal property?

BWas the value of the gift property in excess of the annual per-donee exclusion?

CDid the donor absolutely, irrevocably, and currently divest himself of dominion and control over the property?

DWas the property transferred for less than an adequate and full consideration in money or money's worth?

Show Suggested Answer

Suggested Answer: A

by Eladia at Jul 28, 2023, 08:25 AM

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