Vanna contributed $2,500,000 to a revocable trust this year. She has a life expectancy of 24...
Vanna contributed $2,500,000 to a revocable trust this year. She has a life expectancy of 24 years. At her death, the the assets in the trust will be paid to her grandsons, Alec and Adam. What is Vanna's taxable gift?
Group of answer choices $2,094,752 $0 $2,470,000 $2,500,000
Homework Answers
Vanna reserves the right to revoke the trust, she has not made a completed transfer to Alec and Adam and thus she does not have a taxable gift.
So correct option is B $0
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