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GiftLaw Pro Home   >  Chapter 1 - Taxation and Giving  >  1.2 Gift Tax Deductions  >  1.2.5 Marital Deduction  >  Basic Quiz

Basic Quiz - 1.2.5 Marital Deduction

1. The Tax Code provides an unlimited gift tax deduction for gifts to a donor's spouse.
           
2. There are many forms of property ownership under state law, such as joint tenancy, community property or separate property.
           
3. For a non-citizen spouse, the unlimited gift tax marital deduction is still available.
           
4. A QTIP trust is a qualified trust that invests solely in intangible property.
           
5. The creation and funding of a QTIP trust is taxable because children will eventually receive the property from the trust.
           
6. A QTIP trust is designed to benefit the future spouse and future children of the donor's surviving spouse.
           
7. A QTIP trust can be designed to distribute assets to charity at the surviving spouse's death.
           
8. The creation of a charitable remainder trust by the donor for only the donor's spouse is a transfer of a terminable interest.
           
9. Donor's creation of a charitable remainder trust for only his or her surviving spouse produces a marital tax deduction for the present value of the spouse's income stream.
           
10. The creation of a charitable gift annuity qualifies for the unlimited gift tax marital deduction.