Carmen contributed $300,000 to an irrevocable trust in 2018 and did not retain any right...

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Accounting

Carmen contributed $300,000 to an irrevocable trust in 2018 and did not retain any right to the trust assets. The income beneficiary was Carmen's friend, Jane, and the remainder beneficiary of the trust was Carmen's friend, Mike. At the time of the transfer, Carmen paid gift tax of $25,000. Carmen died in 2020. The date of death value of the trust assets was $750,000.
1. Will any portion of the amounts above be included in Carmen's gross estate? (yes or no)
2. If yes, what amount? (enter N/A if applicable)
3. If no, enter N/A

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