Free American College HS330 Exam Actual Questions

The questions for HS330 were last updated On Nov 19, 2024

Question No. 1

Which of the following statements concerning the imposition of state death taxes on property

owned by a decedent is (are) correct?

1. Real estate must be taxed in the state where the decedent was domiciled.

2. lntangible personal property is generally taxed in the state where the decedent was domiciled

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Correct Answer: B

Question No. 2

The federal gift tax is

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Correct Answer: D

Question No. 3

The federal gift tax is:

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Correct Answer: D

Question No. 4

Which of the following statements concerning the so-called ''kiddie-tax'' on unearned income of children under age 14 is (are) correct?

l. The rules apply to earned income of the children.

II. The rules apply to trust income received by a child under age 14 only it the trust was

established by the child's parents.

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Correct Answer: D

Question No. 5

All the following transfers are subject to the generation-skipping transfer tax (GSTT) EXCEPT:

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Correct Answer: B