Mary transferred 471000 to a trust with directions to pay, Financial Accounting

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Mary transferred 471000 to a trust with directions to pay

Mary transferred $471000 to a trust with directions to pay income to her spouse, Will, for his life. After Will's death the corpus of the trust will pass to Will's son. If the life estate is valued at $73000, what is the total amount of the taxable gifts?

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Financial Accounting: Mary transferred 471000 to a trust with directions to pay

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Financial Accounting: Mary transferred 471000 to a trust with directions to pay

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