Mr. Lee made the following transfers this year. Which of the transfers are treated as gifts for federal tax purposes?
A. Charitable contribution to the United Way
B. Payment to a hospital for the medical expenses of his 39-year old son
C. Political contribution to the Democratic party
D. None of the above are treated as gifts.
Answer: D
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[APPENDIX] When a company has a credit balance in its Deferred Tax account, this amount would appear as a(n)
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Indicate whether the statement is true or false
________ is the country where an expatriate is working.
A. Multinational B. Host C. Home D. Provider