Does 2012 regulation include Gift, estate and generation skipping tax?

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  • April 3, 2012 at 1:57 am #169031
    popscon
    Member

    Hi, guys

    I am reviewing with 2011 material for REG

    It says in the book that the Gift, estate, and generation tax is not applicable after 2010

    But do I still have to study this part for CPA exam?

    And fot gift tax, I think this is from the recipient’s point of view(therefore the gift tax does not apply to donors), am I right?

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  • April 3, 2012 at 2:00 am #337021
    jeff
    Keymaster

    Um no – get some 2012 NINJA Notes/Audio or Wiley Test Bank 😉

    April 3, 2012 at 2:01 am #337022
    Minimorty
    Participant

    You need to know it all for REG.

    Only the donor pays gift tax, but the donee will have basis issues to deal with.

    April 3, 2012 at 12:29 pm #337023
    SusanStudies
    Participant

    You need to study this section. It is included in the CSOs, therefore a testable item.

    AUD: 07/11/11 - Passed
    BEC: 08/27/11 - Passed
    FAR: 01/17/12 - Passed
    REG: 04/30/12; Re-take 7/16/12 - Passed

    FINISHED!!!!!!!!

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