Five years ago, Debora gave a life insurance with a $750,000 death benefit to her daughter, Linda.
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Five years ago, Debora gave a life insurance with a $750,000 death benefit to her daughter, Linda. At the time of gift, the value of the life insurance was $65,000, and Debora paid $10,000 in federal gift tax. Debora passed away this year. What amount will be included in her federal gross estate related to this life insurance policy.
Related Book For
South Western Federal Taxation 2016 Corporations Partnerships Estates and Trusts
ISBN: 9781305399884
39th edition
Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young
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