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47.Which of the following statements concerning the federal estate tax is correct? (A) Property included in the gross estate for federal estate tax purposes must
47.Which of the following statements concerning the federal estate tax is correct? (A) Property included in the gross estate for federal estate tax purposes must be valued at its fair market value on the date of death. (B) Beneficiaries of an estate cannot be charged with estate tax liability. (C) The estate subject to tax includes not only property actually owned by the estate owner at the time of death but also property deemed to have been owned at the date of death. (D) U.S. citizens are subject to federal estate tax only on property they own at the time of death that is located in the U.S
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