Question
1. Which of the following terms refers to the property of a decedent reverting to his or her state of domicile? a) Intestate b) Succession
1. Which of the following terms refers to the property of a decedent reverting to his or her state of domicile? a) Intestate b) Succession c) Apportionment d) Escheat |
2. Which of the following interests in real property gives the owner of the interest the most control over the property? a) A life estate b) A remainder interest c) A retained interest d) A fee simple estate |
3. A wife makes outright gifts of $96,000 to her son, and her husband agrees to split the gifts with her. Which of the following correctly states the amount of the taxable gifts? a) Wife - $26,000, husband - $46,000 b) Wife - $34,000, husband - $34,000 c) Wife - $46,000, husband - $46,000 d) Wife - $72,000, husband - $0 |
4. Which of the following items is a deduction from a decedents gross estate in determining the adjusted gross estate? a) Foreign death taxes b) State excise taxes c) Claims against the estate d) The marital deduction |
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