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Question 7 0.5 pts Michael and his sister Wendy purchased a vacation property together as Joint Tenants with Rights of Survivorship. Michael contributed $50,000
Question 7 0.5 pts Michael and his sister Wendy purchased a vacation property together as Joint Tenants with Rights of Survivorship. Michael contributed $50,000 toward the $200,000 purchase price and Wendy contributed the remaining $150,000. Wendy died this year. The property was worth $986,243. How much will be included in her gross estate? (Round your answer to 2 decimal places) Question 8 0.5 pts The gross estate was $12,000,000 on Sue's date of death. Six months later the real estate she owns has decreased in value and her gross estate is only worth $11,217,747. If her executor elects to us the alternate valuation date what gross estate value will be used in her estate tax return?
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