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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.

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

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Clarence

3 months ago

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

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Laticia

2 months ago

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

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Colette

2 months ago

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

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Ruthann

2 months ago

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

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Ernestine

3 months ago

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

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Fidelia

26 days ago

I believe the correct statement is option B) II only.

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Honey

29 days ago

B) II only

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Shaniqua

1 months ago

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

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Kimbery

1 months ago

A) l only

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Laila

3 months ago

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

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Lauran

2 months ago

B) II only

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Pa

2 months ago

A) l only

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Hollis

3 months ago

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

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Chi

3 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.

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Desmond

3 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.

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Shantell

3 months ago

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

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Malcolm

1 months ago

You're welcome!

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Tenesha

2 months ago

That makes sense, thanks for clarifying.

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Na

2 months ago

Option A) l only

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Cassie

2 months ago

Yes, a disclaimer can impact the deduction.

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Lauran

4 months ago

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

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