Joy died on November 5, 2014. Soon after Joy's death, the executor discovered the following insurance policies

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Joy died on November 5, 2014. Soon after Joy's death, the executor discovered the following insurance policies on Joy's life. Indicate the amount includible in Joy's gross estate for each policy.

Joy transferred ownership of policies 757 and 848 to her son in 1998. She gave ownership of policy 414 to her daughter in 2012?

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Federal Taxation 2015 Comprehensive

ISBN: 9780133807783

28th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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Question Posted: Oct 14, 2016 09:34 AM

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Joy died on November 5, 2014. Soon after Joy's death, the executor discovered the following insurance policies

Question:

Policy Number Face Value Beneficiary Joy's husbad $400,000 Joy's estate Joy's son Owner 123 Joy 757 Joy's son 848 Joy's son 414 Joy's daughter Joy's husband75,000 225,000 300,000

Step by Step Answer:

Policy Number Amount Included 123 400000 because Joy is the owner ...View the full answer

Federal Taxation 2015 Comprehensive

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