A gift tax return does not need to be filed unless the taxpayer has made current gifts in excess of the unified credit.
Correct Answer:
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Q20: Both spouses must consent to any gift-splitting
Q22: The tax on cumulative taxable gifts is
Q23: A terminable interest in property is any
Q26: The gross estate may contain property transfers
Q27: No deductions are allowed when calculating the
Q30: The theft of property included in the
Q31: Property is included in the gross estate
Q32: Proceeds of life insurance paid to the
Q34: A transfer of a terminable interest will
Q36: Proceeds of life insurance paid due to
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