When nils dies this year the 50000 cash is still in a, Ask an Expert

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Two years ago Nils transfers a $200,000 life insurance policy on his life to his daughter, Gail. The policy is worth $60,000 at the time of transfer and Gail pays Nils $50,000. When Nils dies this year, the $50,000 cash is still in a savings account. The consideration offset when computing Nil's gross estate is :

a. $0

b. $50,000

c. $150,000

d. $166,667

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9408767

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