Question: May died during 2012. Using the following data, what is the total amount that should be included in Mays gross estate? Life insurance proceeds owned

May died during 2012. Using the following data, what is the total amount that should be included in Mays gross estate? Life insurance proceeds owned by May 5,000,000 Property held jointly with Mays brother; there is no documentation regarding who paid the purchase price 500,000 Jewelry 50,000 Stocks 2,000,000 Personal residence owned jointly by May with her husband as Tenants in Common; there is no documentation regarding who paid the purchase price 1,000,000

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