Identify which of the following statements is true.
A) Under the unified transfer tax system, taxable gifts made after 1976 are included in the donor's death tax base.
B) The gift tax is a wealth transfer tax that applies to transfers during a person's lifetime and transfers at death.
C) The gift tax is not a part of the unified transfer tax system.
D) All of the above are false.
Correct Answer:
Verified
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