1. Which of the following estates would be required to file a federal estate tax return?

Group of answer choices

A decedent who died in 2017 with a total gross estate of $2.5 million and a taxable estate of $2.3 million

An individual who gave $6 million cash to his spouse six months before he died in 2017

An individual who died in 2017 with a gross estate of $8 million and a taxable estate of $7.7 million

A decedent who died in 2017, owning joint property with his spouse, valued at $4 million

2. All of the following items will be included in Ms gross estate at his death, EXCEPT:

Group of answer choices

A $100,000 life insurance policy owned by M and payable to his wife

A life estate in a Kansas wheat farm willed to M by his father

A general power of appointment over trust property

Ms curtesy rights in his deceased wifes property

3. By the terms of his will, K gave his wife the right to live in their home until her death (a life estate interest). Ks daughter by a former marriage was to have the property upon Mrs. Ks death. Under these circumstances, which of the following statements is correct?

Group of answer choices

At the time of death, Mrs. K has a contingency interest in the property

The property will be excluded from Ks gross estate.

Mrs. Ks interest terminates at her death.

The property would be included in Mrs. Ks gross estate.

4. Which of the following statements concerning curtesy is (are) correct?

I It is a property right that derives from marriage.

II It is the wifes right to an interest in real estate owned by her husband during his lifetime.

Group of answer choices

II only

I only

Both I and II

5. 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 adjusted gross estate?

Group of answer choices

$700,000

$575,000

$650,000

$850,000