25 May Question 1. Which, ifany,of thefollowingitems issubjectto indexation(adjusted toreflectinflation)
Question
1. Which, ifany,of thefollowingitems issubjectto indexation(adjusted toreflectinflation)?
a. Theelection tosplit giftsunder§2513.
b. Thelimitation placedon theamount allowedas acharitablecontributionforestatetaxpurposes(§2055).
c. Annualexclusion.
d. Unifiedtransfer taxrates.
e. Noneof theabove.
2. Which,if any,of thefollowing statementscorrectly reflectstherules applicableto thealternatevaluation date(i.e.,
§2032)?
a. Theelection ismade bythe executor.
b. Canbeelectedeventhoughno estatetaxreturn(i.e.,Form706) hastobefiled.
c. Canbe electedonlyif itreduces theamount ofthe grossestateorreducestheestatetaxliability.
d. Itselectiondoesnotaffectthe incometaxbasisofpropertyincludedin thegrossestate.
e. Noneof theabove.
3. In which,if any,ofthe followingindependent situationscanthe alternatevaluation datebeelected?
ValueofGrossEstate EstateTaxResult
DateofDeath Alternate Date DateofDeath Alternate Date
a. $6,000,000 $6,100,000 $400,000 $390,000
b. $5,900,000 $5,800,000 $400,000 $405,000
c. $6,100,000 $6,000,000 $390,000 $380,000
d. $6,200,000 $6,300,000 $500,000 $490,000
e.Noneofthe above
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