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P1-U18 · PART 1 · SOURCE CYCLE 2026-2027
Individual Estate and Gift Tax
Only cards whose complete question and answer were checked against exact primary-authority evidence appear here.
Q1.Who is generally responsible for paying gift tax?
The donor.
Q2.What is included in the gross estate for Form 706 purposes?
property in which the decedent had an interest at death certain transfers with retained interests, jointly owned property, annuities, and general powers of appointment life-insurance proceeds receivable by the estate or over which the decedent held incidents of ownership
Q3.What is estate-tax portability?
a surviving spouse may use the deceased spouse's unused exclusion amount if a timely and complete Form 706 elects portability the DSUE amount increases the surviving spouse's applicable exclusion for gift and estate tax portability does not automatically transfer GST exemption