Transactions involving a taxable gift include which of the following?

Transactions involving a taxable gift include which of the following?

I. A father bought real estate, paid the entire $180,000 purchase price, and titled it jointly with his son with right of survivorship.

ll. A father deposited $50,000 in a bank account titled jointly with his daughter with right of survivorship and died before any funds were withdrawn from the account.
A . l only
B . II only
C . Both l and ll
D . Neither I nor II

View Answer

Answer: A