Question $19$

As part of a property settlement, Manny transfers to Jane income$-$producing property. Six months later, they divorce. Which of the following are accurate statements regarding IRC section $2516?$

Transfers made in contemplation of divorce are not subject to gifflyax if certain conditions are met.

Husband and wife must enter a written agreement relative to marital and property rights.

The divorce must occur within the $3-$year period beginning $1$ year before the agreement is entered $($regardless of approval by divorce decree$).$

Transfers of property pursuant to the agreement to settle marital rights, property rights, or to provide a reasonable allowance for the support of children of the marriage during minority allow for a carryover basis of the property to the individual receiving the property.

All of the above are accurate statements.