In 2007,Mario Transferred Several Assets by Gift to Different Persons

question 145

Multiple Choice

In 2007,Mario transferred several assets by gift to different persons.Mario dies in 2009.Information regarding the properties given is summarized below.

The transfer of the land and the stocks and bonds resulted in a total gift tax of $60,000.As to these transactions,Mario's gross estate must include:

• A)$200,000.
• B)$260,000.
• C)$1,900,000.
• D)$1,960,000.
• E)None of the above.

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Definitions:

Splanchnic Nerves

Nerves that convey information about the nutrient contents of the stomach to the brain and are responsible for providing autonomic nervous system control to the abdomen.

Collateral Ganglia

Collections of nerve cell bodies located in the peripheral autonomic nervous system, involved in transmitting nerve signals to organs.

Paravertebral Ganglia

Nerve cell clusters found alongside the vertebral column, involved in the autonomic nervous system's sympathetic division.

Vagus Nerve

The tenth cranial nerve, which innervates various organs, including the heart, lungs, and digestive tract, and plays a critical role in autonomic functions.