At the time of his death,Norton was involved in the following transactions.

What amount is included in Norton's gross estate?

Question

At the time of his death,Norton was involved in the following transactions.

What amount is included in Norton's gross estate?

Quizplus · Accepted Answer

$600,000 + $400,000 + $200,000 + $500,000 = $1,700,000.All of the joint tenancy is included in the gross estate as Norton contributed all of the purchase price.A tenancy by the entirety is a joint tenancy between husband and wife.Under a special rule,each spouse is deemed to be an equal contributor to the cost of the property.Under § 2033,Norton's share of the tenancy is included in his gross estate.Municipal bonds are included in the gross estate.

At the Time of His Death,Norton Was Involved in the Following