Question

At the time of her death on October 4,

Nancy • Was the sole life beneficiary of a trust (assets worth $2 million) created 10 years ago by George (Nancy's husband). The transfer was by gift of securities then worth $ 500,000 George and Nancy's children are the remainder beneficiaries. Owned stock in Yahoo Corporation (basis of $........800,000......... and fair market value of $ 1 million ). On September 7, a dividend of $....48,000............. was declared on the stock payable to all shareholders of record on October 3. The $......48,000................ was received by George's executor on October 19. • Made a taxable gift of $.......400,000.......... in a prior tax year.

As to these transactions, George's gross estate includes?

Answer 1

Given That,

assets worth $2 million created 10 years ago by George

So we get 2M / 10years

==> 2000000 / 10 ==> 200000

basis of $800,000

On September 7, a dividend of $48,000.

As to these transactions, George's gross estate says the stock and the divident are included.

So, according to this the post taxable gifts are attached to estate in appear at base tax.

which is because of no election, so, the trust which is not comprise in estate

so finally we get the following answer

==>800000+200000+48000

==>1048000$