Maxine agrees to purchase Jacob's property utilizing a private annuity.  Jacob's table life expectancy is ten years at the date of the agreement, and the property has a fair market value of $400,000.  The private annuity payment is $45,000 per year, and Maxine dies after making two payments.  At Maxine's death, what amount is included in her gross estate with regards to the private annuity and the transferred property? $0 $90,000 $310,000 $400,000

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter27: The Federal Gift And Estate Taxes
Section: Chapter Questions
Problem 29CE
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Maxine agrees to purchase Jacob's property utilizing a private annuity.  Jacob's table life expectancy is ten years at the date of the agreement, and the property has a fair market value of $400,000.  The private annuity payment is $45,000 per year, and Maxine dies after making two payments.  At Maxine's death, what amount is included in her gross estate with regards to the private annuity and the transferred property?

$0

$90,000

$310,000

$400,000

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