question archive One of the following is not an exempt gift or a deduction from the gross gift, of a non-resident alien Donor
One of the following is not an exempt gift or a deduction from the gross gift, of a non-resident alien Donor
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One of the following is not an exempt gift or a deduction from the gross gift, of a non-resident alien Donor.
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- Dowries or gifts on account or marriage
- Gift made to or for the use of the national Government or to any political subdivision
- Gift in favour of an educational and/or charitable, religious, cultural or social welfare corporation , institution, accredited non-government organization, trust or philanthropic organization or research instution or organization.
- Encumbrance on the property donated, if assumed by the done.
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Answer: d .
D. Encumbrance on the property donated is assumed by the donee.
Encumbrance is defined as having claims in the property that is not fully possessed by the one holding it. As per the federal policies in this country, nonresident aliens are not allowed to file for tax on all forms of gifts except for the real property that is the country. The most common types of encumbrances are noted under the. law include mortgages, property tax aliens, and easements. Any form of real property is therefore subjected to gift tax thus not allowed deductions.
