_____ 8.Gifts are valued at their fair market value on the date of gift and the donee takes this fair market value as basis.
Correct Answer:
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Q1: _ 9.Only gift taxes on a present
Q4: _ 16.No estate tax is due if
Q5: Which of the following does not apply
Q6: _ 6.With a revocable trust,the grantor can
Q7: _ 3.Painting a house for your mother
Q8: Carl gave his six children gifts of
Q9: _ 13.Probate determines the property included in
Q10: _ 17.The tax on generation skipping transfers
Q11: _ 4.Putting cash into a joint bank
Q46: The estate tax
A) applies to the person
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