ACC 547 Taxation

Question # 00000499 Posted By: koolmind Updated on: 08/15/2013 02:00 AM Due on: 08/19/2013
Subject General Questions Topic General General Questions Tutorials:
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37.

(LO2)

Last year Robert transferred a life insurance policy worth $45,000 to an

irrevocable trust with directions to distribute the corpus of the trust to his

grandson, Danny, upon his graduation from college, or to Danny’s estate upon

his death. Robert paid $15,000 of gift tax on the transfer of the policy. Early

this year, Robert died and the insurance company paid $400,000 to the trust.

What amount, if any, is included in Robert’s gross estate?

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Tutorials for this Question
  1. Tutorial # 00000389 Posted By: mac123 Posted on: 08/15/2013 02:01 AM
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