Why this statement is false?

1. "An exemption equivalent is the amount of annual gifts that is automatically exempt from the gift tax"

2. "A couple who is married at the time of completing a gift can elect to file a joint gift tax return"

Why this statement is True?

1. "Proceeds of life insurance paid to decedent's estate due to the death of the decedent are included in the decedent's gross estate even if the decedent had no ownership rights in the policy at the time of death"

2."A withdrawal of money from a bank account held in joint tenancy with the right of survivorship may constitute a completed gift"

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