In 2020, Ralph transferred several assets by gift to different persons. Ralph dies in 2022. Information regarding
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In 2020, Ralph transferred several assets by gift to different persons. Ralph dies in 2022. Information regarding the properties given is summarized below.
DateofGift | DateofDeath | |
InsurancepolicyonRalph'slife | $ 20,000 | $200,000 |
Unimprovedland | 890,000 | 900,000 |
Stocksandbonds | 600,000 | 800,000 |
The transfer of the land and the stocks and bonds resulted in a total gift tax of $60,000. As to these transactions, how much is included in Ralph's gross estate?
Expert Answer:
Calculation of Inclusion in Ralphs Gross Estate To determine how much of the assets transferred by gift to different persons should be included in Ral... View the full answer
Related Book For 
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
