Saturday, May 4, 2024
Specific Property Gifts

4.12.3 Basic Quiz -- Gifts of Family Stock
In valuing gifts to children, the incentive is to set a low value.
     True      False
In valuing gifts to charity, the incentive is to set a low value.
     True      False
An independent appraisal of family business stock is necessary to determine the value of the stock before it is given to children or charity if the stock is not traded on a public exchange.
     True      False
Giving family business stock to charity and children at the same time helps protect a donor from challenges that the stock was incorrectly valued.
     True      False
Self-dealing rules apply to transactions between a donor and a public charity.
     True      False
Self-dealing rules apply to transactions between a donor and a charitable remainder trust.
     True      False
A public charity can sell family business stock back to a donor or his or her family members at a low value.
     True      False
It is possible for a corporation to buy its own stock from a charitable remainder trust created by the corporation's owner.
     True      False
A charitable remainder trust may sell its stock to a purchaser in exchange for a promissory note.
     True      False
A charitable remainder trust may hold family business stock as its only investment.
     True      False



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