Question
The gross estate of Hannah Lopez includes her solely-owned principal residence. The house was valued at $400,000, It was subject to a mortgage of $300,000.
The gross estate of Hannah Lopez includes her solely-owned principal residence. The house was valued at $400,000, It was subject to a mortgage of $300,000. Hannah's estate is NOT liable for repayment of the mortgage. What value is reported for the residence on the estate's Form 706, Schedule A?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
