American College Exam HS330 Topic 1 Question 87 Discussion

Actual exam question for American College's HS330 exam

Question #: 87
Topic #: 1

All the following statements concerning a federal estate tax deduction for a bequest or gift to a qualified charity are correct EXCEPT:

AA life insurance policy that was assigned to a charity as a gift less than 3 years prior to the insured's death qualifies for a charitable deduction.

BThe amount of a charitable deduction is reduced by any taxes and administrative expenses chargeable against the bequest.

CAn estate may deduct the value of the remainder interest in a charitable remainder trust.

DThe amount of a charitable deduction may not exceed 50 percent of a decedent's adjusted gross estate.

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Suggested Answer: D

by Mozell at May 07, 2024, 03:31 AM

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7 months ago

So, what do you think about the charity deduction question?

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