Question: For 2011, the generation-skipping transfer tax is imposed a. Instead of the gift tax. b. Instead of the estate tax. c. At the highest tax

For 2011, the generation-skipping transfer tax is imposed

a. Instead of the gift tax.

b. Instead of the estate tax.

c. At the highest tax rate under the transfer tax rate schedule.

d. When an individual makes a gift to a grandparent.

III. Income Taxation of Estates and Trusts

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