eBook Calculator Chapter 15 Critical Thinking Case 2 Estate Taxes on Saul Schwab's Estate S Saul Schwab, of Knoxville, Tennessee, was 65 the 100 nt marital deduct . Their only chid E when he retired in 2010. Camille, his wife of 40 years, passed away the next year. Her will left everything to Saud. Although Camille's estate was valued at $2,250,000, there was no estate tax due because of is a ried to Kathleen They ha e oin college and two n Ngh scho in 201 Saul ade a p of Apple stek worth s 600 tyto nd a hteen. a ne ir r childrnn, t the urified credit, no gift taxes were due. When Saul died in 2015, his home was valued at $980,000, his vacation was valued at $500,000, his investments in stocks and bonds were valued at $1,890,000, and his pension e ret d ours ip funds were worth $645,000 g was na ned beneficiary). Sa ale ned a He insurance policy that pal proceeds of S720 DO to E He lef $60 the o tate was left t a Funeral costs were se, e s ere so ooo and is elane s e penses e soas atenr rir m a i 00 to his durch and $25,000 tt his high stod to starts a on i tire e e win name 1. Compute the value of Saudl's probate estate. 2. Compute the value of Saul's gross estate 3 Datermine the total allowable deductions. Enter your answer as a positive value 4. Caloulate the estahe tax bese; taking into sccount the gits Given to Elil and Kathleen (remember that the annual exclusions adjust the taxable oifts) s. Use Exhibit 15.7 to determine the tentative tax on estate tax Dase. 6. Subtract the unifisd tax crade (Exhibit 15.aj for 2025 from the tentative tax n estate tax base to to arrive at the fedaral estate tax due 7.Comment on the estate shrfinkage sxperienced br Saul's estate. What might have been done to reduce this sheinkage? Explain. eBook Calculator Chapter 15 Critical Thinking Case 2 Estate Taxes on Saul Schwab's Estate S Saul Schwab, of Knoxville, Tennessee, was 65 the 100 nt marital deduct . Their only chid E when he retired in 2010. Camille, his wife of 40 years, passed away the next year. Her will left everything to Saud. Although Camille's estate was valued at $2,250,000, there was no estate tax due because of is a ried to Kathleen They ha e oin college and two n Ngh scho in 201 Saul ade a p of Apple stek worth s 600 tyto nd a hteen. a ne ir r childrnn, t the urified credit, no gift taxes were due. When Saul died in 2015, his home was valued at $980,000, his vacation was valued at $500,000, his investments in stocks and bonds were valued at $1,890,000, and his pension e ret d ours ip funds were worth $645,000 g was na ned beneficiary). Sa ale ned a He insurance policy that pal proceeds of S720 DO to E He lef $60 the o tate was left t a Funeral costs were se, e s ere so ooo and is elane s e penses e soas atenr rir m a i 00 to his durch and $25,000 tt his high stod to starts a on i tire e e win name 1. Compute the value of Saudl's probate estate. 2. Compute the value of Saul's gross estate 3 Datermine the total allowable deductions. Enter your answer as a positive value 4. Caloulate the estahe tax bese; taking into sccount the gits Given to Elil and Kathleen (remember that the annual exclusions adjust the taxable oifts) s. Use Exhibit 15.7 to determine the tentative tax on estate tax Dase. 6. Subtract the unifisd tax crade (Exhibit 15.aj for 2025 from the tentative tax n estate tax base to to arrive at the fedaral estate tax due 7.Comment on the estate shrfinkage sxperienced br Saul's estate. What might have been done to reduce this sheinkage? Explain