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American College Exam HS330 Topic 1 Question 84 Discussion

Actual exam question for American College's HS330 exam
Question #: 84
Topic #: 1
[All HS330 Questions]

Tax benefits of making lifetime gifts in excess of the gift tax annual exclusion include all the following EXCEPT:

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Suggested Answer: B

by Charlene at Apr 14, 2024, 10:03 PM

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Alberta
5 months ago
I think I'll go with C as well, it seems like the most logical choice.
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Kirby
5 months ago
Hmm, I see your point. C does make sense.
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Deandrea
5 months ago
I'm not sure, but I think it might be A.
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Alberta
5 months ago
I disagree, I believe it is C.
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Kirby
6 months ago
I think the answer is B.
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Azalee
6 months ago
I see your point, but I still think D) is the correct answer because gift taxes are paid at the same rate as estate taxes.
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Boris
6 months ago
I agree with User 1, C) seems to make sense because giving income-producing property to a low-income donee can save on income taxes.
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Thad
6 months ago
I disagree, I believe it's D)
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Marg
7 months ago
I think the answer is C)
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Kasandra
7 months ago
I don't know, that just sounds too good to be true. I'm pretty sure the IRS has some rules about that kind of thing. You don't want to end up in hot water with the tax man, am I right?
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Portia
7 months ago
You know, I'm really curious about option C. Saving income taxes by giving income-producing property to a low-income donee sounds like a great strategy. Maybe I should look into that.
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Catarina
7 months ago
Hmm, I'm not so sure about that. I was thinking option A might be the correct answer. The gift tax paid on a gift made more than 3 years prior to the death of the donor should avoid inclusion in the donor's gross estate, right?
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Domitila
7 months ago
I think option B is the correct answer. Appreciation in the value of a gift of real property after the date of the gift would increase the donor's federal estate tax liability, not decrease it.
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Tamra
6 months ago
User 4
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Geoffrey
6 months ago
User 1
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Georgeanna
7 months ago
Agreed. I'm worried about the gift tax and how it might affect my estate planning. Does anyone have experience with this?
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Rory
8 months ago
This is a tricky question. I'm not sure about the answer, but I think it's important to understand the tax implications of making lifetime gifts.
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