1. The federal estate tax charitable deduction is limited to: (A) (B) 20% of the gross estate 20% of the adjusted gross estate 20% of the taxable estate $250,000 The net value of any property includible in the gross estate and transferred to a qualified charity 2. Louis Gardener established a charitable remainder trust which will pay income for life to Louis and the remainder to a local charity. Which of the following statements concerning the trust is (are) correct? DB or If the trust assets are includible in Gardener's gross estate, the federal estate tax charitable deduction will apply to these assets. II Gardener can take an income tax deduction in the year the trust is created for the present value of the remainder interest. I (A) I only II only (0) Both I and II Neither I nor II (B) (D) 3. Harold Jones established a trust to which he transferred marketable securities worth $300,000. The trust pays annually 8.5% of the initial fair market value of the trust assets to a local public charity. The trust provides that after 15 years, the securities in the trust will pass to Harold's son. Harold can currently take an income tax deduction for the value of the income that is given to the local charity. What arrangement has Harold created? (A) (B) (C) L (D) A charitable remainder annuity trust A charitable lead annuity trust A pooled-income fund A charitable remainder unitrust dan berhub Si bubble