Which one of the following statements is not true concerning the Federal estate tax?
A)In computing the Federal estate tax liability, all gifts made after December 31, 1976 are added to the taxable estate.
B)The Federal estate tax is cumulatively computed on taxable gifts made during a donor's lifetime and taxable transfers made at the donor's death.
C)A decedent is entitled to an unlimited marital deduction for the value of property passing to a surviving spouse.
D)All gift taxes paid on post-1976 gifts are subtracted from the tentative tax on total transfers.
E)For most purposes, a decedent's taxable estate is treated as the decedent's last gift.

Question

Quizplus · Accepted Answer

This statement is not true because only gifts made after December 31, 1976 and within three years of the decedent's death are added to the taxable estate. Gifts made more than three years before the decedent's death are not included in the taxable estate.

Which One of the Following Statements Is Not True Concerning