Homer and Laura are husband and wife.At the time of Homer's prior death in 2015,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) .Homer owns an insurance policy on his life (maturity value of $1,000,000) with Laura 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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