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When a gift-splitting election is made, gifts made by either spouse during the year will be treated as if each spouse made one-half of the transfer.

A) True
B) False

Correct Answer

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A future interest is a right to receive income or property in the future.

A) True
B) False

Correct Answer

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The testamentary transfer of property to a qualified charity is deductible in calculating the taxable estate without any ceiling limitation.

A) True
B) False

Correct Answer

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