Joy died on November 5, 2015. Soon after Joys death, the executor discovered the following insurance policies

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Joy died on November 5, 2015. Soon after Joy€™s death, the executor discovered the following insurance policies on Joy€™s life.

Joy transferred ownership of policies 757 and 848 to her son in 2009. She gave ownership of policy 414 to her daughter in 2013. Indicate the amount includible in Joy€™s gross estate for each policy.

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Federal Taxation 2016 Comprehensive

ISBN: 9780134104379

29th Edition

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

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Question Posted: Dec 11, 2015 03:51 AM

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Joy died on November 5, 2015. Soon after Joys death, the executor discovered the following insurance policies

Question:

Policy Number Owner Beneficiary Face Value Joy Joy's son Joy's son Joy's daughter Joy's husband Joy's estate Joy's son Joy's husband 123 S400,000 757 225.000 848 300,000 414 175,000

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Policy Number 123 757 848 414 Amount Included 400000 because Joy i...View the full answer

Federal Taxation 2016 Comprehensive

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