In 2009, Glen transferred several assets by gift to different persons. Glen dies in 2011. Information regarding the properties given is summarized below. The transfer of the land and the stocks and bonds resulted in a total gift tax of $60,000. As to these transactions, Glen's gross estate must include:

Question

In 2009, Glen transferred several assets by gift to different persons. Glen dies in 2011. Information regarding the properties given is summarized below.  The transfer of the land and the stocks and bonds resulted in a total gift tax of $60,000. As to these transactions, Glen's gross estate must include:

Quizplus · Accepted Answer

The gross estate of a decedent includes the value of all property that the decedent owned or had an interest in at the time of death, including gifts made within three years of death. In this case, the gifts were made within two years of death, so they are subject to inclusion in the gross estate. The total value of the gifts was $260,000, which must be added to the value of any other assets in Glen's estate to determine the gross estate value.

In 2009, Glen Transferred Several Assets by Gift to Different