In 2019,  Lisa  transferred property worth $80,000 to her brother Andrew. Because of the unified credit, Lisa  paid no gift taxes when she made the transfer. When  Lisa  died, the property was worth $120,000.

 

For each case, state (insofar as the transfer goes) what is: (i)in her gross estate; and (ii) the adjusted taxable gift for estate tax purposes?


a)  Lisa  transferred stock two years before  she  died

 

b) Lisa transferred stock four years before she died.

 

c) Lisa transferred life insurance ($80, 000 was its gift value) two years before she died. Andrew collected the $120,000 proceeds.

 

d)  Lisa transferred life insurance ($80,000 was its gift value) four years before she died. Andrew  collected the $120,000 proceeds.

Answer rating: 100% (QA)

Case A Two years prior to her passing Lisa switched stock Gross estate 120 000 the property s worth at Lisa s passing For estate tax purposes Lisa s a View the full answer