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GiftLaw Pro Home   >  Chapter 4 - Specific Property Gifts  >  4.11 Savings Bonds  >  4.11.2 Transfers During Life  >  Basic Quiz

Basic Quiz - 4.11.2 Transfers During Life

1. There are many restrictions regarding the reissue of U. S. savings bonds during life.
           
2. A taxpayer may reissue U.S. savings bonds to a charity.
           
3. Assuming a taxpayer can reissue savings bonds in a charity's name, then the taxpayer can avoid the accumulated interest income attributable to the savings bonds.
           
4. If a donor does not want to report the accumulated interest income attributable to Series EE savings bonds, he or she could transfer the bonds outright to charity.
           
5. If a donor does not want to report the accumulated interest income attributable to Series EE savings bonds, he or she could transfer the bonds to a charitable remainder trust.
           
6. If a donor does not want to report the accumulated interest income attributable to Series EE savings bonds, he or she could transfer the bonds to a gift annuity.
           
7. Because Series EE savings bonds are usually held for 20 years or longer, a taxpayer will be subject to long-term capital gain rates after redeeming the EE bonds.
           
8. A disadvantage of Series EE savings bonds is that a taxpayer must report the interest income each year.
           
9. An advantage of Series EE savings bonds is the ability to redeem the bonds without having to report the accumulated interest income.
           
10. The Department of Commerce issues U. S. savings bonds.