question 171 of bpp kit FA2021

This topic has 1 reply, 2 voices, and was last updated 3 years ago by JillyB.

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September 14, 2022 at 9:03 am #666355
hm1995
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question 171 states that rodney left 200 to each of his 5 nephews. however in the answer it says that 200 to each nephew totaling 1000 is not exempt as it is not a lifetime transfer. how is it not a lifetime transfer and why does it not qualify for small gift exemption?
September 17, 2022 at 4:44 pm #666626
JillyB
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I’m afraid I do not have a copy of the BPP question bank. Please provide more details
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