Homer and Laura are husband and wife. At the time of Homer's prior death in 2011, they owned the following: land as tenants by the entirety worth $2,000,000 (purchased by Homer) and stock as equal tenants in common worth $3,000,000 (purchased by Laura) . Laura also owns an insurance policy on Homer's life (maturity value of $1,000,000) with herself as the designated beneficiary. Homer's will passes all his property to Laura. How much marital deduction is allowed Homer's estate?
A) $2,000,000.
B) $2,500,000.
C) $3,500,000.
D) $4,500,000.
E) None of the above.
Correct Answer:
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