Question
In which, if any, of the following independent situations has Trent made a gift? Trent established a $500,000 irrevocable trust, income payable to himself for
In which, if any, of the following independent situations has Trent made a gift?
Trent established a $500,000 irrevocable trust, income payable to himself for life and, upon his death, remainder to his children.
Trent dies owning a $100,000 U.S. savings bond with ownership listed as: Trent, payable to Sue on Trents death. Sue redeems the bond.
Trent sends $25,000 to Alices oral surgeon in payment of her dental implants. Alice is Trents sister and does not qualify as his dependent.
During the current year, Trent contributes $200,000 to the Republican Party convention and $200,000 to the Democratic Party convention.
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