Question
Hi, Kindly assist with the following question, I am struggling to come to the conclusion. 1) Morgan, awidow, recently passed away. The value of her
Hi,
Kindly assist with the following question, I am struggling to come to the conclusion.
1)
Morgan, awidow, recently passed away. The value of her assets at the time of death was $10,100,000. The cost of her funeral was $15,785, while estate administrative costs totaled $31,386. As stipulated in herwill, she left $935,332 to charities. Based on this information answer the followingquestions:
a. Determine the value ofMorgan's gross estate.
b. Calculate the value of her taxable estate.
c. What is hergift-adjusted taxable estatevalue?
d. Assuming she died in 2017, how much of her estate would be subject totaxation?
e. Calculate the estate tax liability.
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