Ernie Died This Year

question 92

Multiple Choice

Ernie died this year. His will creates a $2,000,000 QTIP trust for his widow. Ernie's executor elects to claim the marital deduction for the QTIP transfer. At the time of the surviving spouse's death, the value of the QTIP trust is $3.6 million. The amount of the QTIP trust included in the surviving spouse's gross estate is

• A)$3,600,000.
• B)$2,000,000.
• C)$1,800,000.
• D)$0.

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Definitions:

Shoplifted

The act of stealing goods from a retail establishment without paying for them.

Illicit Gambling

Refers to unauthorized or illegal forms of gambling that are not permitted under law.

Loan Sharking

The practice of lending money at excessively high rates of interest, often with the threat of violence for non-repayment.

Property Crime

Crimes that involve the theft or destruction of someone else's property, including burglary, larceny, auto theft, and arson.