An income interest in a trust
A) must be established for a fixed term in years.
B) is not eligible for the annual exclusion.
C) must be irrevocable to be eligible for the annual exclusion.
D) is irrevocable if the donor only controls who may receive trust income.
Correct Answer:
Verified
Q30: Chloe gave $16,000 to her son, $21,000
Q31: The donor of a trust is the
Q32: The following transfer(s) is excluded from gift
Q33: A trust that features a demand provision
Q34: Giving appreciating property away reduces the potential
Q36: In 2019, Bill and his wife, Helen,
Q37: The annual gift tax exclusion
A)cannot increase beyond
Q38: In 2019, Bill and his wife, Helen,
Q39: Carl gave his six children gifts of
Q40: Which of the following gifts is not
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents