In 2012, Glen Transferred Several Assets by Gift to Different

question 124

Multiple Choice

In 2012, Glen transferred several assets by gift to different persons. Glen dies in 2014. Information regarding the properties given is summarized below.
Fair Market Value
$\begin{array}{lcc} & \text { Date of Gift } & \text { Date of Death } \\\text { Insurance policy on Glen's life } & \$ 20,000 & \$ 200,000 \\\text { Unimproved land } & 890,000 & 900,000 \\\text { Stocks and bonds } & 600,000 & 800,000\end{array}$
The transfer of the land and the stocks and bonds resulted in a total gift tax of $60,000. As to these transactions,
Glen's gross estate must include:

• A) $0.
• B) $200,000.
• C) $260,000.
• D) $1,900,000.
• E) $1,960,000.

---

Definitions:

Rorschach Inkblot Test

A projective psychological test consisting of 10 inkblots that the participant is asked to interpret, intended to reveal a person's unconscious thoughts, motives, or desires.

Validity

The extent to which a test measures what it claims to measure.

Diagnostic Tool

Instruments, tests, or procedures used by healthcare professionals to identify or diagnose diseases, conditions, or disorders.

Psychosexual Stages

A theory in Freudian psychology that describes five stages of child development, each characterized by a focus on erogenous zones and a particular conflict that must be resolved to achieve healthy psychological development.