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) $386,000.
B) $58,000.
C) $374,000.
D) $328,000.
E) None of the choices are correct.
Correct Answer:
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