Question
In 2019, Lisa transferred property worth $80,000 to her brother Andrew. Because of the unified credit, Lisa paid no gift taxes when she made the
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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Case A Two years prior to her passing Lisa switched stock Gross estate 120000 the propertys worth at Lisas passing For estate tax purposes Lisas adjus...Get Instant Access to Expert-Tailored Solutions
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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
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