The estate and gift taxes share several common features. Which of the following characteristics is common to both the estate and gift taxes?

Multiple Choice

• A marital deduction and a deduction for casualty losses.
• A marital deduction for transfers of all terminable interests.
• The tax rate schedule for calculating gross transfer taxes.
• A charitable deduction and an annual exclusion.
• None of these choices list characteristics common to both the gift and the estate tax.