Question

A. Which Treasury Regulation addresses the issue of whether the opening a bank account as joint tenants with right of survivorship is a completed gift for gift tax purposes.

a. Treas. Reg. Sec. 2511-1(a).
b. Treas. Reg. Sec. 25.2511-1(h)(4).
c. Treas. Reg. Section 20.2011.
d. None of the above.

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B.

. Assume it is now December 2017. What court decided ABC v. Commissioner, 967 U.S. 567 (2017) in November of this year?

a. District Court.

b. Tax Court.

c. Supreme Court.

d. Court of Appeals.

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C.

Answer 1

b. Treas. Reg. Sec. 25.2511-1(h)(4).
Explanation

Section 25.25111 (h) (4) states that if any bank account is opend in the joint name of other person to which one of the other person has the authority to withdraw the amount without the consent of the first person than to the extent the other person can withdraw the money will be considered as the gift.

c. Supreme Court.

Explanation:

which court has decided the verdict can be checked through the citation "ABC v. Commissioner, 967 U.S. 567 (2017) " Whenever there is a Supreme Court case it has to citing as the official supreme court reporter, implied by "U.S." provided in the question.