Wednesday, May 8, 2024
Specific Property Gifts

4.11.2 Basic Quiz -- Transfers During Life
There are many restrictions regarding the reissue of U. S. savings bonds during life.
     True      False
A taxpayer may reissue U.S. savings bonds to a charity.
     True      False
Assuming a taxpayer can reissue savings bonds in a charity's name, then the taxpayer can avoid the accumulated interest income attributable to the savings bonds.
     True      False
If a donor does not want to report the accumulated interest income attributable to Series EE savings bonds, he or she could transfer the bonds outright to charity.
     True      False
If a donor does not want to report the accumulated interest income attributable to Series EE savings bonds, he or she could transfer the bonds to a charitable remainder trust.
     True      False
If a donor does not want to report the accumulated interest income attributable to Series EE savings bonds, he or she could transfer the bonds to a gift annuity.
     True      False
Because Series EE savings bonds are usually held for 20 years or longer, a taxpayer will be subject to long-term capital gain rates after redeeming the EE bonds.
     True      False
A disadvantage of Series EE savings bonds is that a taxpayer must report the interest income each year.
     True      False
An advantage of Series EE savings bonds is the ability to redeem the bonds without having to report the accumulated interest income.
     True      False
The Department of Commerce issues U. S. savings bonds.
     True      False



© Copyright 1999-2024 Crescendo Interactive, Inc.