Problem
On January I of Year I, X transfers $200,000 to T in an irrevocable trust, income to D for life, remainder to B. D has the non-cumulative power to invade corpus each year up to $22,000 (if D has not exercised the power by the end of the year, the power for that year terminates, but a new power exists for the succeeding year). Dnever exercised the power during his life, and died in Year 2. The value of the trust corpus at all times was $200,000. At D's death, how much would be taxed to D's estate because of the power?