Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return, is required to be filed for
A. A transfer of a present interest that is not more than the annual exclusion ($14,000).
B. A qualified transfer for educational or medical expenses.
C. A transfer of a future interest that is not more than the annual exclusion ($14,000).
D. A transfer to your spouse that qualifies for the unlimited marital deduction.
Answer: C. A transfer of a future interest that is not more than the annual exclusion ($14,000).
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Which of the following statements is true?
A) The indirect method and the direct method will produce a different amount of net cash flow from investing activities. B) The indirect method starts with net income and adjusts it to cash provided by (used for) operating activities. C) The direct and indirect methods include different types of cash flows in the investing activities section. D) The indirect method includes all non-cash activities, whereas the direct method includes only the cash activities.
Which type of control is associated with making sure an organization's control environment is stable?
A) general B) application C) detective D) preventive