Question
Elizabeth, a widow, has decided to set up trusts for each of her four grandchildren to take advantage of the generation-skipping transfer tax exemption. In
Elizabeth, a widow, has decided to set up trusts for each of her four grandchildren to take advantage of the generation-skipping transfer tax exemption. In 2021, she gives each grandchild $250,000. Elizabeth has not made any previous taxable gifts.
What are her total generation-skipping transfers for 2021?
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| A) | $235,000. |
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| B) | $1,000,000. |
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| C) | $940,000. |
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| D) | $0 |
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 6th Edition
324664559, 978-0324664553
