Monday, May 6, 2024
Specific Property Gifts

4.14.5 Basic Quiz -- Asset Sale Strategy
Charitable remainder trusts may own S corporation stock.
     True      False
An S corporation itself may create a charitable remainder trust.
     True      False
An S corporation's charitable deductions "pass through" to its shareholders.
     True      False
An S corporation may contribute all of its assets to a charitable remainder trust with no tax due and payable.
     True      False
A charitable remainder trust funded with S corporation assets must be for a term of one to 20 years.
     True      False
If an S corporation contributes assets to a charitable remainder trust, it must exercise care to ensure that those assets don't generate active trade or business income that will be UBI to the trust.
     True      False
An S corporation shareholder may use 100% of any deduction that the S corporation "passes through" to him or her.
     True      False
To avoid UBI, an S corporation may lease its assets to a third party prior to contributing those assets to charity or a charitable remainder trust.
     True      False
If an S corporation contributes its assets to a charitable remainder trust, it can later purchase the assets back from the charitable remainder trust for their fair market value.
     True      False
A charitable remainder trust may own liquid or illiquid assets.
     True      False



© Copyright 1999-2024 Crescendo Interactive, Inc.