The generation-skipping tax is designed to accomplish which of the following? prevent the avoidance...
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Accounting
The generation-skipping tax is designed to accomplish which of the following?
- prevent the avoidance of transfer taxes (both estate and gift tax) through transfers that skip a generation of recipients.
- eliminate the possibility that the estate tax can be avoided by gifts in contemplation of death.
- generate additional revenues to supplement the estate tax.
- replace the gift tax on distributions from trusts.
- None of these.
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