Question
The following are the composition of Florence estate. Insurance proceeds from SSS P90,000 Transfer with reservation of certain rights 135,000 Merger of usufruct in the
The following are the composition of Florence estate.
Insurance proceeds from SSS P90,000
Transfer with reservation of certain rights 135,000
Merger of usufruct in the owner of the naked title 400,000
Donation to the Red Cross 220,000
Life insurance with his daughter as revocable beneficiary 500,000
Transfers under general power of appointment 100,000
Transfers under special power of appointment 75,000
36. Based on the above information, how much should be included as part of Florence's gross estate?
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Step: 1
To determine the gross estate of Florence we need to consider the items listed and include those that are subject to inclusion as per estate tax regul...
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
22nd Edition
324401841, 978-0-324-6250, 0-324-62509-X, 978-0324401844
