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A is the owner of a life insurance policy on the life of B. A transfers ownership of the policy to B. A dies two

A is the owner of a life insurance policy on the life of B. A transfers ownership of the policy to B. A dies two years later. What estate tax consequences may A face as a result?

A. 2033 could apply to include the value of the life insurance policy

B. 2035(a) could apply to include the value of the life insurance policy

C. 2035(b) could apply to include gift taxes paid, if any

D. Both 2035(a) and 2035(b) could both apply

E. 2042 could apply to include the value of the life insurance policy

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