1. James Jones, a widower, is projected to leave the following estate:

Home $300,000

Life insurance 200,000

Securities 350,000

Debts 125,000

Charitable bequests 75,000

His funeral expenses and estate administration expenses will probably total $75,000. What is the projected amount of Jones taxable gross estate?

Group of answer choices

$575,000

$650,000

$700,000

$850,000

2. James Jones, a widower, is projected to leave the following estate:

Home $300,000

Life insurance 200,000

Securities 350,000

Debts 125,000

Charitable bequests 75,000

His funeral expenses and estate administration expenses will probably total $75,000. What is the projected amount of Jones gross estate?

Group of answer choices

$850,000

$575,000

$650,000

$700,000

3. All of the following are allowable deductions from a decedents gross estate, EXCEPT:

Group of answer choices

Funeral expenses

Foreign death taxes

Theft/casualty losses

Administration expenses

4. Debra Dins left a gross estate valued at $1,250,000. She left everything to her husband Ted. The estate administration expenses are $70,000, the debts are $155,000, and funeral expenses are $25,000. What is the amount of the marital deduction?

Group of answer choices

$0

$1,250,000

$1,155,000

$1,000,000

5. Z made a gift of $150,000 cash to his wife five years before he died. His adjusted gross estate at his death is $600,000. What is the maximum marital deduction available for federal estate tax purposes?

Group of answer choices

$600,000

$450,000

$750,000

$300,000