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Business, 20.02.2020 08:17 pegflans314

Contributions to a Section 529 Education Savings Plan account may be subject to federal gift taxes. All of the following are true statements about the federal gift tax rules EXCEPT.(A)There is an annual tax exclusion for a donor.(B)A spouse of the donor may join in the contribution to the account increasing the exclusion.(C)Five years of future exclusions can be advanced into the current year this permitting a larger initial exclusion as a joint gift.(D)The federal gift tax liability falls on the donee of the account, not the donor..

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Contributions to a Section 529 Education Savings Plan account may be subject to federal gift taxes....
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