Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25

- Free Preparation Discussions

American College Exam HS330 Topic 1 Question 89 Discussion

Actual exam question for American College's HS330 exam

Question #: 89
Topic #: 1

[All HS330 Questions]

Which of the following statements concerning the gift or estate tax charitable deduction is (are) correct?

1. A 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.

2. A decedent-spouse estate may obtain both marital and charitable deductions for interests contributed to a charitable remainder trust when the surviving spouse is the only no charitable income beneficiary for life.

Al only

BII only

CBoth l and ll

DNeither I nor II

Show Suggested Answer

Suggested Answer: A

by Royal at May 28, 2024, 07:17 AM

Limited Time Offer

25%

Off

Get Premium HS330 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Clarence

1 months ago

I'd like to disclaim my entire tax knowledge and take the charitable deduction on it.

upvoted 0 times

Laticia

16 days ago

A: Oh, really? I'll have to double check that.

upvoted 0 times

...

Colette

23 days ago

B: No, I believe it's option C) Both I and II.

upvoted 0 times

...

Ruthann

29 days ago

A: I think the correct statement is option A) I only.

upvoted 0 times

...

...

Ernestine

2 months ago

Disclaimer, marital, charitable - this is like a tax-themed crossword puzzle!

upvoted 0 times

Kimbery

4 days ago

A) l only

upvoted 0 times

...

...

Laila

2 months ago

I'm already getting a headache just reading these options. Tax questions, am I right?

upvoted 0 times

Lauran

22 days ago

B) II only

upvoted 0 times

...

Pa

26 days ago

A) l only

upvoted 0 times

...

...

Hollis

2 months ago

Marital and charitable deductions for a CRT? Sounds like a tricky one.

upvoted 0 times

...

Chi

2 months ago

I'm not sure, but I think I would go with D) Neither I nor II because I'm not confident in my understanding of the rules.

upvoted 0 times

...

Desmond

2 months ago

I agree with Lauran, because both statements seem to be accurate based on the rules of the gift or estate tax charitable deduction.

upvoted 0 times

...

Shantell

2 months ago

Wait, so a disclaimer can affect the deduction? That's a new one to me.

upvoted 0 times

Malcolm

5 days ago

You're welcome!

upvoted 0 times

...

Tenesha

7 days ago

That makes sense, thanks for clarifying.

upvoted 0 times

...

Na

8 days ago

Option A) l only

upvoted 0 times

...

Cassie

14 days ago

Yes, a disclaimer can impact the deduction.

upvoted 0 times

...

...

Lauran

2 months ago

I think the correct answer is C) Both l and ll.

upvoted 0 times

...