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A note which Mary the right to receive $100,000 per year for the next 2...

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Accounting

A note which Mary the right to receive $100,000 per year for the next 2 years (2017 and 2018) and the possible right to receive $100,000 for the following 2 years, 2019 and 2020, but only if Mary were living(which she was not). At the time of Marys death the value of the guaranteed right to receive $100,000 in 2017 and 2018 is $185,000 and the value of Marys contingent right to receive $100,000 in 2019 and 2020(if she survived) was $76,000. Mary obtained the note when she sold her house to a third party in an arms length transaction.

As to these transactions, how much is included on the Estate of Marys income tax return for the year of death?

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