Indicate by a T if the following results in a taxable gift and an N if it does not result in a taxable gift.
-$60,000 value of a remainder interest in a trust created this year

Question

Quizplus · Accepted Answer

Creating a trust and transferring assets into it, such as a remainder interest valued at $60,000, is considered a transfer of wealth and is subject to gift tax, thus resulting in a taxable gift.

Indicate by a T If the Following Results in a Taxable