Question #12 of 85 Which of the following is a CORRECT statement concerning whether a transfer is a gift for federal gift tax purposes? A) The gift tax does not apply to the forgiveness of one or two loan payments if the loan is from a parent(s) to an adult child to use for education or for the down payment on a house, the loan is evidenced by a promissory note, and there is a reasonable expectation that the child will make the remaining payments. OB) In most states, there is no immediate gift tax consequence of adding a child's name to a parent's existing bank accounts so that the child can assist in paying the parent's bills. OC) The gift tax applies only when a donor intentionally and voluntarily transfers property to another and does not receive equal value for what was given. D) The gift tax does not apply to a situation where a donee disclaims her right in the property in favor of someone else that she names. Question #12 of 85 Which of the following is a CORRECT statement concerning whether a transfer is a gift for federal gift tax purposes? A) The gift tax does not apply to the forgiveness of one or two loan payments if the loan is from a parent(s) to an adult child to use for education or for the down payment on a house, the loan is evidenced by a promissory note, and there is a reasonable expectation that the child will make the remaining payments. OB) In most states, there is no immediate gift tax consequence of adding a child's name to a parent's existing bank accounts so that the child can assist in paying the parent's bills. OC) The gift tax applies only when a donor intentionally and voluntarily transfers property to another and does not receive equal value for what was given. D) The gift tax does not apply to a situation where a donee disclaims her right in the property in favor of someone else that she names