Which one of the following statements regarding the qualified domestic trust (QDOT) election is correct? A)The election allows the estate to take a charitable deduction for assets given to a foreign charity. B)The election allows the estate to take a marital deduction for the value of assets given to a spouse who is not a U.S. citizen. C)The QDOT election can be made for terminable interest property. D)The property protected by the QDOT election is not subject to estate tax upon the death of the income beneficiary of the estate.
Which one of the following statements regarding the qualified domestic trust (QDOT) election is correct? A)The election allows the estate to take a charitable deduction for assets given to a foreign charity. B)The election allows the estate to take a marital deduction for the value of assets given to a spouse who is not a U.S. citizen. C)The QDOT election can be made for terminable interest property. D)The property protected by the QDOT election is not subject to estate tax upon the death of the income beneficiary of the estate.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which one of the following statements regarding the qualified domestic trust (QDOT) election is correct?
A)The election allows the estate to take a charitable deduction for assets given to a foreign charity.
B)The election allows the estate to take a marital deduction for the value of assets given to a spouse who is not a U.S. citizen.
C)The QDOT election can be made for terminable interest property.
D)The property protected by the QDOT election is not subject to estate tax upon the death of the income beneficiary of the estate.
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