Saturday, May 4, 2024
Specific Property Gifts

4.14.9 Basic Quiz -- Sub S Lead Trust
All types of trusts may own S corporation stock.
     True      False
Many types of lead trusts may own S corporation stock.
     True      False
Lead trusts are an excellent way to transfer property to family at a reduced transfer tax cost.
     True      False
The 10% minimum deduction interest test does not apply to lead trusts.
     True      False
The lower the Applicable Federal Rate, the higher the deduction with a charitable remainder lead trust.
     True      False
A lead trust is a tax-exempt trust.
     True      False
A non-grantor lead trust with remainder passing to family produces an income tax deduction.
     True      False
Grantor lead trusts usually produce an estate tax deduction.
     True      False
The trust, not the donor, is taxable on the income earned by the grantor lead trust.
     True      False
A non-grantor lead trust that owns S corporation stock must be an electing small business trust.
     True      False



© Copyright 1999-2024 Crescendo Interactive, Inc.