medium · Certified Financial Planner Retirement
Mr. Darby gifted a 1,000,000 life insurance policy on his own life to an irrevocable trust and gifted 50,000 of common stock to his daughter.
If Mr. Darby dies two years after making these gifts, which of the following is brought back into his gross estate under Section 2035?
- The 50,000 of common stock.
- The 1,000,000 life insurance policy proceeds.
- Both the life insurance policy and the common stock.
- Neither item, because the gifts were completed transfers more than one year prior to death.
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