Jessica's husband died in October of 2016. She has a one year old dependent. She has not remarried. Which filing status will Jessica use on her 2016 income tax return?

		Single
		Head of household
		Married filing jointly
		Qualifying widow

Hazel, a widow, died. She had made no previous lifetime taxable gifts and she died with a gross estate of $5,450,000, consisting solely of a diversified portfolio of publicly traded, income-producing stocks. Her debts were $75,000 and estate administrative expenses amounted to $50,000. Which of the following post-mortem techniques should Hazel's executor consider electing?

a.

The alternate valuation date.

b.

Deduct estate administrative expenses on the estate's fiduciary income tax return.

c.

Pay estate taxes under IRC Section 6166.

d.

Use a Section 303 stock redemption.

Federal estate and gift taxes are determined by the fair market value of the property transferred. Which of the following statements are true?

Asset values are based upon the fair market value on the date of death or six months after the date of death for the gross estate.

Taxes are progressively higher as more assets are transferred during life.

Value is determined on the date of the transfer of the assets for lifetime transfers.

Special use valuation is always available for special use property.

a.

1 only.

b.

1 and 3.

c.

1, 2 and 3.

d.

1, 2, 3 and 4.

Which of the following apply to Section 303 redemptions?

	a.	The closely held interest must meet the 25% rule.
	b.	Qualifying redemption amounts are limited by the payment of death taxes and estate administration taxes and costs.
	c.	A publicly traded stock will usually qualify for a 303 redemption if the interest is a minority interest.
	d.	The stock redeemed must be common stock.