Question
At the time of her death on June 6, Kelsie owned the following assets. TaupeCorporationstock(cost$400,000,FMV$800,000).OnMay4,Taupedeclaredacashdividend,payableon June15,toshareholdersasoftherecorddateof June4. Kelsie's executorreceivedthe$40,000dividendonthescheduledpaymentdate. Cityof Boisebonds(cost$800,000,FMV$780,000).InterestaccruedtoJune6was$42,000.Theexecutoreventuallycollected$50,000(includedpost-deathaccrualof$8,000)onJuly20. As to these transactions,
At the time of her death on June 6, Kelsie owned the following assets.
- TaupeCorporationstock(cost$400,000,FMV$800,000).OnMay4,Taupedeclaredacashdividend,payableon June15,toshareholdersasoftherecorddateof June4. Kelsie's executorreceivedthe$40,000dividendonthescheduledpaymentdate.
- Cityof Boisebonds(cost$800,000,FMV$780,000).InterestaccruedtoJune6was$42,000.Theexecutoreventuallycollected$50,000(includedpost-deathaccrualof$8,000)onJuly20.
As to these transactions, how much is included in Kelsie's gross estate?
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South Western Federal Taxation 2017 Comprehensive
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
40th Edition
1305874161, 978-1305874169
