Which one of the following will result from the spouse of a decedent making a qualified disclaimer of property? A) It results in a taxable gift of the property by the disclaimant. B) The property is excluded from the disclaimant's gross estate. C) The property is probated in the disclaimant's estate. D) The spouse will have to report any income earned by the property prior to the disclaimer.
Which one of the following will result from the spouse of a decedent making a qualified disclaimer of property? A) It results in a taxable gift of the property by the disclaimant. B) The property is excluded from the disclaimant's gross estate. C) The property is probated in the disclaimant's estate. D) The spouse will have to report any income earned by the property prior to the disclaimer.
Chapter27: The Federal Gift And Estate Taxes
Section: Chapter Questions
Problem 14DQ
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Question
Which one of the following will result from the spouse of a decedent making a qualified disclaimer of property?
A)
It results in a taxable gift of the property by the disclaimant.
B)
The property is excluded from the disclaimant's gross estate.
C)
The property is probated in the disclaimant's estate.
D)
The spouse will have to report any income earned by the property prior to the disclaimer.
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT