In 2015, Glen Transferred Several Assets by Gift to Different $\quad$

question 99

Multiple Choice

In 2015, Glen transferred several assets by gift to different persons. Glen dies in 2016. Information regarding the properties given is summarized below. $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\text { Fair Market Value }$
$\begin{array}{lll}&\text { Date of Gift } & \text { Date of Death } \\\text { Insurance policy on Glen's life } & \$ 20,000 & \$ 200,000 \\\text { Unimproved land } & 890,000 & 900,000 \\\text { Stocks and bonds } & 600,000 & 800,000\end{array}$
? 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.

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