Problemtom hughes died in 2009 with a gross estate of 39, Ask an Expert

Accounting

Problem:

Tom Hughes died in 2009 with a gross estate of $3.9 million and debt of $30,000. He made post-1976 taxable gifts of $100,000, valued at $80,000 when he died. His estate paid state death taxes of $110,200.

Required:

Question: What is his estate tax base?

Note: Provide support for your rationale.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91171412

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