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Four years ago, Rhett gave a life insurance policy with a $750,000 death benefit to his daughter, Marcelle. At the time of the gift, the
Four years ago, Rhett gave a life insurance policy with a $750,000 death benefit to his daughter, Marcelle. At the time of the gift, the value of the life insurance policy was $65,000, and Rhett paid $10,000 in federal gift tax. Rhett unexpectedly died this year. What amount will be included in Rhett's federal gross estate related to this life insurance policy?
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South-Western Federal Taxation 2020 Comprehensive
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
43rd Edition
357109147, 978-0357109144
