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Which of the following is a false statement? A.Both the gift tax and estate tax formulas permit unlimted nontaxable transfers to one's spouse. B.Unlimited nontaxable
Which of the following is afalsestatement?
A.Both the gift tax and estate tax formulas permit unlimted nontaxable transfers to one's spouse.
B.Unlimited nontaxable gifts are allowed for medical and educational expenses.
C.One may transfer $15,000 as an excludable gift per donee each year.
D.The gift splitting rules are designed to put common law taxpayers on level ground with community property state taxpayers in regards to the gift tax.
E.All of the other statements are correct.
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