Sunday, May 5, 2024
Specific Property Gifts

4.14.8 Basic Quiz -- Self-Dealing Issues
Self-dealing occurs when a private individual transacts business with a charitable remainder trust.
     True      False
An S corporation cannot purchase its assets back from the charitable remainder trust to which the S corporation gave the assets.
     True      False
An S corporation cannot purchase assets back from a charity to which the S corporation gave the assets.
     True      False
Charitable remainder trusts are subject to the same self-dealing rules that apply to private foundations.
     True      False
Public charities are subject to the same self-dealing rules that apply to private foundations.
     True      False
An S corporation can transfer part of its assets to a charitable remainder trust and retain ownership of the rest of its assets.
     True      False
Any person who owns more than 20% of an S corporation is a disqualified person with respect to a CRT created by that S corporation.
     True      False
It does not matter who leases assets from an S Corporation prior to the S corporation contributing those assets to a charitable remainder trust.
     True      False
An S corporation that contributes some of its assets to a CRT can sell its remaining assets to a third party who purchases the CRT assets as well.
     True      False
An owner of an S corporation that creates a CRT should not serve as trustee of that CRT.
     True      False



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