At the time of her death, Sophia was a participant in her employer's qualified pension plan. Her accrued balance in the plan is as follows. Employer's contribution $\quad \$ 1,300,000$
Sophia's contribution $\quad 800,000$
Income earned by plan $\quad 900,000$ Sophia also was covered by her employer's group term life insurance program. Her policy (maturity value of
$100,000) is made payable to Aiden (Sophia's husband). Aiden also is the designated beneficiary of the pension plan.
a. Regarding these assets, how much is included in Sophia's gross estate?
b. In Sophia's taxable estate?
c. How much gross income must Aiden recognize, when collecting on these items?

Question

At the time of her death, Sophia was a participant in her employer's qualified pension plan. Her accrued balance in the plan is as follows. Employer's contribution $\quad \$ 1,300,000$
Sophia's contribution $\quad 800,000$
Income earned by plan $\quad 900,000$ Sophia also was covered by her employer's group term life insurance program. Her policy (maturity value of
$100,000) is made payable to Aiden (Sophia's husband). Aiden also is the designated beneficiary of the pension plan. 
a. Regarding these assets, how much is included in Sophia's gross estate?
b. In Sophia's taxable estate?
c. How much gross income must Aiden recognize, when collecting on these items?

Quizplus · Accepted Answer

The Answer of At the time of her death, Sophia was a participant in her employer's qualified pension plan. Her accrued balance in the plan is as follows. Employer's contribution $\quad \$ 1,300,000$
Sophia's contribution $\quad 800,000$
Income earned by plan $\quad 900,000$ Sophia also was covered by her employer's group term life insurance program. Her policy (maturity value of
$100,000) is made payable to Aiden (Sophia's husband). Aiden also is the designated beneficiary of the pension plan. 
a. Regarding these assets, how much is included in Sophia's gross estate?
b. In Sophia's taxable estate?
c. How much gross income must Aiden recognize, when collecting on these items?

At the Time of Her Death, Sophia Was a Participant $1,300,000\quad \$ 1,300,000$1,300,000

At the Time of Her Death, Sophia Was a Participant $\quad \$ 1,300,000$