The Federal gift-splitting election: Question 57 options:

A) Allows the annual exclusion of both spouses to reduce the gift tax due.

B) Allows the exemption equivalent of both spouses to reduce the gift tax due.

C) Is made on both spouses' Forms 709.

D) All of these.

Answer rating: 100% (QA)

The detailed answer for the above question is provided below In the United States the federal giftsplitting election refers to a tax rule that allows ... View the full answer