When Yuji died in March 2014, his gross estate was valued at $8 million. He owed debts

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When Yuji died in March 2014, his gross estate was valued at $8 million. He owed debts totaling $300,000. Funeral and administration expenses were $12,000 and $120,000, respectively. The marginal estate tax rate exceeded his estate's marginal income tax rate because the estate collected only about $8,000 of income. Yuji willed his church $300,000 and his spouse $1.1 million. Calculate Yuji's taxable estate?

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Federal Taxation 2015 Comprehensive

ISBN: 9780133807783

28th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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