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Please provide answer with proper explanation and solution neatly to understand and I Need to take screenshot please send me I will upvote
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OK as per your request I hope 1 to 6 questions are clear but I am uploading 7 to 8 questions which is not clear.. Please answer all bits it's urgent I will give upvote
Last value k missing I am updating here $4,150,000
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S1 died November 30, 2013, survived by 80-year-old S2. The $7520 rate was 4%. They had an ABC estate plan. At S1's death their holdings had the following net value: S1 Separate Property. $6,400,000 Community Property. $6,000,000 S2 Separate Property. $1,800,000 $14,200,000 total S2 died October 9, 2015, and the trusts had the following values: Trust A: $5,000,000 Trust B: $6,422,872 Trust C: $5,077,128 1) At what value will Trust A be funded? 2) At what value will Trust B be funded? 3) At what value will Trust C be funded? A. $673.982 (allow for rounding) B. $740,000 C. $2,000,000/$9,400,000 QTIP fraction should be elected D. $2,300,000/$5,000,000 QTIP fraction should be elected 4) What is the QTIP fraction necessary to equalize the two estates at $7,100,000? 5) What is S1's 2013 estate tax liability? E. None of the other answers is correct 6) S2's executor will take advantage of the prior transfer credit. Regarding the determination of the PTC for S2's estate, what is "credit limit one"? F. $2,300,000/$4,150,000 QTIP fraction should be elected G 400.000 7) S2's taxable estate was correctly determined to be $7.813,830. 52's executor will take advantage of the prior transfer credit. Regarding the determination of the PTC for S2's estate, what is "credit limit two? Note, Tables factor for a life estate (age 80,4%) is 0.26493. 8) What is the prior transfer credit for S2's estate? H$196,048 ow for rounding 55.250.000 51 tos 159 54150.000 Please explain your answer. 7) S2's taxable estate was correctly determined to be $7,813,830. S2's executor will take advantage of the prior transfer credit. Regarding the G. $4,800,000 determination of the PTC for S2's estate, what is "credit limit two"? Note, Table S factor for a life estate (age 80, 4%) is 0.26493. 8) What is the prior transfer credit for S2's estate? $196,048 (allow for H. rounding) I. $5,250,000 J. $1,105,169 S1 died November 30, 2013, survived by 80-year-old S2. The $7520 rate was 4%. They had an ABC estate plan. At S1's death their holdings had the following net value: S1 Separate Property. $6,400,000 Community Property. $6,000,000 S2 Separate Property. $1,800,000 $14,200,000 total S2 died October 9, 2015, and the trusts had the following values: Trust A: $5,000,000 Trust B: $6,422,872 Trust C: $5,077,128 1) At what value will Trust A be funded? 2) At what value will Trust B be funded? 3) At what value will Trust C be funded? A. $673.982 (allow for rounding) B. $740,000 C. $2,000,000/$9,400,000 QTIP fraction should be elected D. $2,300,000/$5,000,000 QTIP fraction should be elected 4) What is the QTIP fraction necessary to equalize the two estates at $7,100,000? 5) What is S1's 2013 estate tax liability? E. None of the other answers is correct 6) S2's executor will take advantage of the prior transfer credit. Regarding the determination of the PTC for S2's estate, what is "credit limit one"? F. $2,300,000/$4,150,000 QTIP fraction should be elected G 400.000 7) S2's taxable estate was correctly determined to be $7.813,830. 52's executor will take advantage of the prior transfer credit. Regarding the determination of the PTC for S2's estate, what is "credit limit two? Note, Tables factor for a life estate (age 80,4%) is 0.26493. 8) What is the prior transfer credit for S2's estate? H$196,048 ow for rounding 55.250.000 51 tos 159 54150.000 Please explain your answer. 7) S2's taxable estate was correctly determined to be $7,813,830. S2's executor will take advantage of the prior transfer credit. Regarding the G. $4,800,000 determination of the PTC for S2's estate, what is "credit limit two"? Note, Table S factor for a life estate (age 80, 4%) is 0.26493. 8) What is the prior transfer credit for S2's estate? $196,048 (allow for H. rounding) I. $5,250,000 J. $1,105,169Step by Step Solution
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