chuck who was single died in 2012 and has a gross estate value of $8. million. six months after his death the gross assets are valued at $ 8.6 million. the estate incurred funeral and admin. expenses of $115000. chuck had a debt amount of $ 165000 and bequeathed all of his estates to his children. during his life, chuck made no taxable gifts.

a. What is the amount of Chuck's taxable estate?

b. What is the tax base for computing chuck's estate tax ?

c. What is the amount of estate tax owed if the tentative estate tax (before credits) is $3,033,800?

d. Alternatively, if six months after his death, the gross assets in chuck's estate declined in value to $ 7.1 million, can the administrator of chuck's estate elect the alternate valuation date? What are the important factors that the administrator should consider as to whether the alternate valuation date should be elected?

e. How would your answer change in parts a,b, and c if chuck's gross estate was $18 million rather than $8 million and the tentative estate tax before the credit was $7,033,800?

This is taxation