State law does not always control whether a transfer is subject to the Federal gift tax.

Name: State law does not always control whether a transfer is subject to the Federal gift tax.
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Question

Quizplus · Accepted Answer

Federal gift tax laws apply to any transfer of property, whether the transfer is subject to state law or not. Therefore, just because a transfer may not be subject to state law does not mean it is not subject to the Federal gift tax.

State Law Does Not Always Control Whether a Transfer Is