AAFM Exam CTEP Topic 4 Question 54 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 54
Topic #: 4

[All CTEP Questions]

In US, GST exemption limit for 2013 is _______________ and the Estate and Gift tax for the same year is __________.

A$5,000,000 ; 35%

B$5,250,000 ; 40%

CNil as Estate Tax is repealed; 35% for Gift tax only

D$5,250,000 ; 40% for Gift Tax only

Show Suggested Answer

Suggested Answer: B

by Mattie at Sep 18, 2024, 01:56 AM

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Chuck

9 months ago

Hmm, I'm not sure. I heard some people say it's Nil for Estate Tax and 35% for Gift tax only.

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Anjelica

9 months ago

I believe it's actually $5,250,000 for the exemption limit and 40% for the tax rate.

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Bernardine

9 months ago

Wait, so there's no Estate Tax but there's a Gift Tax? That's just confusing. I'm going to have to go with option C, even if it's just a wild guess.

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Miriam

9 months ago

Wow, this question is straight out of a tax law textbook. I'm going to go with option D since it seems the most specific.

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Verona

9 months ago

Haha, I can't believe they're asking about the GST exemption limit. Who even knows that off the top of their head? Option A sounds good to me.

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Rosio

8 months ago

Great, let's go with A) $5,000,000 ; 35% then.

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Huey

8 months ago

I agree, A) $5,000,000 ; 35% seems like the correct answer.

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Karina

9 months ago

Yeah, that sounds right to me.

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Lashawnda

9 months ago

I think it's A) $5,000,000 ; 35%

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Chuck

9 months ago

I think the GST exemption limit for 2013 is $5,000,000 and the Estate and Gift tax is 35%.

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Marge

9 months ago

I think option B is the correct answer. The GST exemption limit for 2013 is $5,250,000 and the Estate and Gift tax is 40%.

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Brandon

9 months ago

User 2

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Brent

9 months ago

User 1

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