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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.

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Suggested Answer: A

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

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Laila
7 hours ago
I'm already getting a headache just reading these options. Tax questions, am I right?
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Hollis
4 days ago
Marital and charitable deductions for a CRT? Sounds like a tricky one.
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Chi
5 days 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.
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Desmond
8 days ago
I agree with Lauran, because both statements seem to be accurate based on the rules of the gift or estate tax charitable deduction.
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Shantell
9 days ago
Wait, so a disclaimer can affect the deduction? That's a new one to me.
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Lauran
14 days ago
I think the correct answer is C) Both l and ll.
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