All the following statements concerning a federal estate tax deduction for a bequest or gift to a qualified charily are correct EXCEPT:

All the following statements concerning a federal estate tax deduction for a bequest or gift to a qualified charily are correct EXCEPT:
A . A life insurance policy that was assigned to a charity as a gift less than 3 years prior to the insured’s death qualifies for a charitable deduction.
B . The amount of a charitable deduction is reduced by any taxes and administrative expenses chargeable against the bequest.
C . An estate may deduct the value of the remainder interest in a charitable remainder trust.
D . The amount of a charitable deduction may not exceed 50 percent of a decedent’s adjusted gross
estate.

View Answer

Answer: D