Alexis transferred $400,000 to a trust with directions to pay income to her spouse, William, for his life. After William's death the corpus of the trust will pass to William's son. If the life estate is valued at $72,000, what is the total amount of the taxable gifts?
A) $385,000.
B) $57,000.
C) $375,000.
D) $328,000.
E) None of the choices are correct.
Correct Answer:
Verified
Q57: Natalie transferred $500,000 of bonds to a
Q58: A trust is a legal entity whose
Q59: A serial gift strategy uses multiple gifts
Q60: Which of the following is a true
Q61: This year Don and his son purchased
Q63: Matthew and Addison are married and live
Q64: Christian transferred $60,000 to an irrevocable trust
Q65: Which of the following is a complete
Q66: This year Nathan transferred $7 million to
Q67: This year, Brent by himself purchased season
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents