LO.6 In 2009, Jessica placed $250,000 in a savings account listing ownership as follows: Jessica, Keri, and
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LO.6 In 2009, Jessica placed $250,000 in a savings account listing ownership as follows:
“Jessica, Keri, and Jason, joint tenancy with the right of survivorship.” Keri and Jason are Jessica’s adult children. In 2010, Jason withdrew $50,000 from the account. In 2012, when the account had a balance of $210,000, Jessica predeceases her children. What are the transfer tax consequences of these transactions in:
a. 2009?
b. 2010?
c. 2012?
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Related Book For 
South Western Federal Taxation 2013 Corporations Partnerships Estates And Trusts
ISBN: 9781133495574
36th Edition
Authors: William H. Hoffman, William A. Raabe, James E. Smith, David M. Maloney
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