Regarding maximum federal estate tax charitable deduction

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Reference no: EM131214485

1. Which statement is correct regarding the maximum federal estate tax charitable deduction?

a. The maximum federal estate tax charitable deduction is 50% of the adjusted gross estate.

b. The maximum federal estate tax charitable deduction is 100% of the fair market value of gross estate property contributed to charity.

c. The maximum federal estate tax charitable deduction is 35% of the adjusted gross estate.

d. The maximum federal estate tax charitable deduction is limited to the cash plus fair market value of securities included in the gross estate and contributed to charity.

2. Which statement is correct with respect to the annual gift tax exclusion of a donor with respect to the donor?

a. The 2016 annual gift tax exclusion is $13,000 per donor.

b. The 2015 annual gift tax exclusion was $13,000 per donor.

c. The 2015 and 2016 annual gift tax exclusions were one-half of the fair market value of the gift.

d. The 2016 annual gift tax exclusion is $14,000 per donee.

Reference no: EM131214485

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