Generation-Skipping Transfer (GST) Tax Self-Quiz

 

 

 

 

 

 

 

 

 

In March 2003, Diana made an inter vivos gift of $11,000 to her great-grandson, Carson. In addition, she made another gift of $20,000 to her grandson, Armstrong. Lastly, she gave her sister, Kelly, $25,000 to use as a down payment on a house.
Choice 1 The amount of gifts subject to the GST tax is $31,000.
Choice 2 The amount of gifts subject to the GST tax is $20,000.
Choice 3 The amount of gifts subject to the GST tax is $9,000.
Choice 4 The amount of gifts subject to the GST tax is $56,000.

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