Which of the following statements is (are) true about the federal esta

Which of the following statements is (are) true about the federal estate tax?

I. The gross estate can be reduced by a number of deductions.
II. If the person who died had any ownership interest in a life insurance policy at the time of death, the proceeds are included in the gross estate for federal estate tax purposes.
A) I only
B) II only
C) both I and II
D) neither I nor II

ANSWER

Answer: C