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Question 31 of 50 In 2018, which of the following is NOT true: O The estate tax basic exclusion amount is $11,180,000 O The executor

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Question 31 of 50 In 2018, which of the following is NOT true: O The estate tax basic exclusion amount is $11,180,000 O The executor may elect to use modified carryover basis for assets in an estate. 0 The highest marginal tax rate for the estate/gift tax is 40%. O A deceased spouse's unused exclusion amount is portable. That is, if it is not used by the first spouse to die, the survivi spouse may use the unused exclusion, sheltering up to $11,180,000 at the second death. Mark for follow up Question 32 of 50 Edward died with the following property: a vacation home he owned by himself, a personal residence tenancy with his sister, and an IRA naming her as his beneficiary. life. Which schedules must his executor complete? owned in joint His adult son owns a life insurance policy on Edwar O Schedule A only. O Schedules A, D, and E. O Schedules A, D, and I. O Schedules A. D, E, and I. Mark for follow up

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