East Bay, Inc., a qualifying 501(c)(3) organization, incurs lobbying expenditures of $ during the taxable year. Exempt purpose expenditures are $. If East Bay makes the election under 501(h) to make lobbying expenditures on a limited basis, its tax liability resulting from the lobbying expenditures is:

Question 12 East Bay, Inc., receives its support from the following sources. Governmental unit A for services rendered General public for services rendered Gross investment income Contributions from individual disqualified persons Which of the following statements is correct?

Question 13 East Bay, Inc., a tax-exempt organization, records $ of 2023 net unrelated business income. Total charitable contributions by East Bay total $. Assuming that the $ was deducted in calculating net unrelated business income, what is East Bay's unrelated business taxable income? Question 14 East Bay, Inc., a tax-exempt organization, leases a building and equipment to George Partnership. The rental income from the building is $ and from the equipment is $. Rental expenses are $ for the building and $ for the equipment. What adjustment must be made to net unrelated business income? Chapter 29

Question 15 At the time of his death, George was involved in the following: - Owned land in joint tenancy with Nancy. The land is worth $ ......... and was purchased by George ......years ago, for $............. - Owned land in a tenancy by the entirety with his wife Paula. The land is worth $.................... and was purchased by George .... years ago, for $............... - Owned land in an equal tenancy in common with Micah. The land is worth $..................... and was purchased by George ...... years ago for $................. - Owned City of Hayward bonds worth $.................. What amount is included in George's gross estate?

Question 16 At the time of her death on ........., Paula: Was the sole life beneficiary of a trust (assets worth $ million) created ... years ago by George (Paula's husband). The transfer was by gift of securities then worth $. Paula and George's children are the remainder beneficiaries. Owned stock in East Bay Corporation (basis of $ and fair market value of $ million). On ......., a dividend of $ was declared on the stock payable to all shareholders of record on .......... The $ was received by Paula's executor on ............. Made a taxable gift of $ in a prior tax year. As to these transactions, Paula's gross estate includes:

Question 17 At the time of his death, George was a participant in East Bay Corporation's qualified pension plan and group term life insurance. The balance of the survivorship feature in his pension plan is that: Contribution by East Bay After tax-contributions by George Accumulated plan earnings The term insurance has a maturity value of $.............. All amounts are paid to Palau, George's daughter. One result of these transactions is:

Question 18 In 2020, George purchased land for $ and lists title in the names of her daughters as follows: "Nancy and Kim, joint tenants with right of survivorship." In 2022, Nancy and Kim purchase an apartment building for $ million as equal tenants in common; Nancy furnished $ and Kim furnished $ of the cost. Nancy died before Kim in 2024 when the land is worth $ million and the apartment building is worth $ million. One of the results of these transactions is:

Question 19 George and Nancy are husband and wife and live in Oregon. In 2016 and using her funds, Nancy purchased a residence for $, listing title to the property as "George and Nancy, joint tenants with right of survivorship." In 2024, George dies before Nancy when the residence is worth $ million. A correct statement as to these transactions is:

Question 20 George and Nancy were husband and wife. At the time of George's death, they owned the following: land as tenants by the entirety worth $ (purchased by George) and stock as equal tenants in common worth $ (purchased by Nancy). George owned an insurance policy on his life (maturity value of $) with Nancy as the designated beneficiary. George's will passes all his property to Nancy. How much marital deduction is allowed George's estate?