At the Time of Her Death,Sophia Was a Participant in Her

question 133

Essay

At the time of her death,Sophia was a participant in her employer's qualified pension plan.Her accrued balance in the plan is: Employer's contribution $1,300,000 Sophia's contribution 800,000 Income earned by plan 900,000 Sophia also was covered by her employer's group term life insurance program.Her policy (maturity value of $100,000) is made payable to Aiden (Sophia's husband).Aiden is also the designated beneficiary of the pension plan.
a.Regarding these assets,how much is included in Sophia's gross estate?
b.In Sophia's taxable estate?
c.How much gross income must Aiden recognize,when collecting on these items?

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Definitions:

Eye Contact

The act of two people looking into each other's eyes, which can communicate interest, attention, or other emotions.

Social Distraction

A phenomenon where the presence or activities of others interfere with an individual's ability to focus or perform tasks.

Relative Status

The perceived rank or standing of an individual or group in comparison to others within a social or organizational context, influencing interactions and behavior.

Emotional Contagion

The phenomenon where one person's emotions and related behaviors directly trigger similar emotions and behaviors in other people.