Statement about tax basis irrevocable trusts


Question: Which of the following is not an accurate statement about tax basis irrevocable trusts? Question options: a) A joint trust is most commonly used where only one spouse is contributing property. b) Separate trusts are recommended where each spouse has appreciated property to contribute. c) Separate trusts are not recommended with large estates. d) A joint trust is most commonly used for smaller estates where the federal estate tax is not a major factor.

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Taxation: Statement about tax basis irrevocable trusts
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