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Which of these are tax advantages of a lifetime gift over a transfer after death? The annual exclusion if the gift is of a present
Which of these are tax advantages of a lifetime gift over a transfer after death?
- The annual exclusion if the gift is of a present interest
- A step-up in basis at the donor's death
- The possible removal of potential appreciation from future transfer tax
- Gift tax paid is excluded from the gross estate, except for those taxes paid on gifts made within five years before death
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