Zac Peterson’s estate reports the following information: Value of estate assets $ 2,490,000 Conveyed to spou...
Zac Peterson’s estate reports the following information:
| Value of estate assets | $ | 2,490,000 | |
| Conveyed to spouse | 1,095,000 | ||
| Conveyed to children | 239,500 | ||
| Conveyed to trust fund for benefit of cousin | 547,500 | ||
| Conveyed to charities | 269,500 | ||
| Funeral expenses | 32,500 | ||
| Administrative expenses | 50,500 | ||
| Debts | 255,500 | ||
What is the taxable estate value?
Homework Answers
Answer:
| Zac Peterson | ||||||||
| Taxable Estate Value = Value of estate assets - Conveyed to Spouse - Conveyed to Charities - | ||||||||
| Funeral Expenses - Administrative Expenses - Debts | ||||||||
| Taxable Estate Value = 2490000-1095000-269500-32500-50500-255500 | ||||||||
| Taxable Estate Value = $787,000 | ||||||||
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Zac Peterson’s estate reports the following information: Value of estate assets $ 2,490,000 Conveyed to spou...
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