In 2019, Lisa transferred property worth $80,000 to her brother Andrew. Because of the unified credit, Lisa paid no gift
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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.
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Chapter # 29- Practice Set Assignments— Comprehensive Tax Return
Posted Date: September 30, 2023 05:39:24