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8. Computing the federal transfer tax Practice 1 when Kyle Dreisbach died in 2012, he left an estate valued at $15,0DD,DDD. His trust directed distribution
8. Computing the federal transfer tax Practice 1 when Kyle Dreisbach died in 2012, he left an estate valued at $15,0DD,DDD. His trust directed distribution as follows: $300,0DD in charitable deductions ($50,000 to the lacal hospital plus $250,000 to his alma mater), and the remainder to his four adult children. Death-related costs were $8,500 for funeral expenses, and $125,0DD in administrative expenses ($60,000 paid to attorneys, 15,000 paid to accountants, and $50,000 paid to the trustee of his living trust. In addition, there were debts of $650,0DD Use the following worksheet and Exhibits 15.7 and 15.8 to calculate the federal estate tax due on Kyle Dreisbach's estate. Enter a value of $0 for any line that does nat apply Computing Federal Estate Tax Due Name: Kyle Dreisbach Line Computation Date: 11/30/2012 Amount Total Amount Item Gross estate (a) Funeral expenses (b) Administrative expenses (c) Debts (d) other expenses Subtract sum of: Total: Adjusted gross estate (a) Marital deduction (b) Charitable deduction Subtract sum of: Total Result: Add: Taxable estate Adjusted taxable gifts (post-1976) Estate tax base Tentative tax on estate tax basea (a) Gift tax payable on post-1976 gifts (b) Unified tax credith Subtract sum of: Total: Result: Subtract Result: Total estate taxes other credits Federal estate tax due 10 12 "Use Erb 15.7 to calalate the tentative tax. use Exhibi 15.8 to determine the appropriate unfied tax credr
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