Identify Which of the Following Statements Is False

Identify which of the following statements is false.

A) A future interest includes reversions, remainders, and other interests, which are limited to commence in use, possession, or enjoyment at some future date or time.
B) The gift tax exclusion is available only for a gift of a present interest.
C) A trust for a minor trust) must distribute all of its income currently in order to qualify for the annual exclusion.
D) For a transfer made in trust, each beneficiary is deemed to be a separate donee.

Correct Answer:

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