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Janet died testate on January 27, 2021 in a car accident. She left a surviving spouse, Bob. Her Executor is also her daughter, Maya. Janet
Janet died testate on January 27, 2021 in a car accident. She left a surviving spouse, Bob. Her Executor is also her daughter, Maya. Janet had the following list of assets. Which of the assets will be in her gross estate? What amounts? If zero, enter O. Same facts as above. Janet's estate has the following debts. Are any of the deductions allowed against the gross estate to get to the adjusted gross estate? If so, what is the dollar amount for each? If it is not an allowable deduction, then enter O on the AMOUNT line. Credit Cards: $22,000 Medical expenses from the car accident: $65,000 Funeral: $27,000 Estate Administration costs: $60,000 Executor Fee: $55,000 Mortgage debt on the Vail Condo: $100,000 Pennsylvania Inheritance Tax: $72,000 Same facts as #1. Can any of the following bequests be used to reduce Janet's taxable estate? If it is not an allowable deduction, enter O. IF ALLOWED AS A ALLOWABLE DEDUCTION DEDUCTION, ENTER THE FOR THE TAXABLE AMOUNT-If not allowed, ESTATE? (Yes or No) enter 0/ $175,000 to St. Jude Children's Hospital $150,000 to her best friend, Michelle $1,000,000 to her daughter Maya
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