Question: Beth died on May 8, 2014. Her executor elected date-of-death valuation. Beth's gross estate included, among other properties, the items listed below. What is the

Beth died on May 8, 2014. Her executor elected date-of-death valuation. Beth's gross estate included, among other properties, the items listed below. What is the estate tax value of each item?

a. 4,000 shares of Highline Corporation stock, traded on a stock exchange on May 8, 2014 at a high of 30, a low of 25, and a close of 26.

b. Life insurance policy on the life of Beth having a face value of $600,000. The cost of a comparable policy immediately before Beth's death was $187,430.

c. Life insurance policy on the life of Beth's son having a face value of $100,000. The interpolated terminal reserve immediately before Beth's death was $14,000. Unexpired premiums were $920.

d. Beach cottage appraised at a FMV of $175,000 and valued for property tax purposes at $152,000?

Step by Step Solution

★★★★★

3.46 Rating (156 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a 110000 4000 sh... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

1052-L-B-L-T-L (5334).docx

120 KBs Word File

Students Have Also Explored These Related Business Law Questions!

When Godfrey died in 2016, his assets were valued as follows: Asset Date of Death Valuation Valuation Six Months Later...

Bonnie died on June 1, 2015, survived by her husband, Abner, and two sons, Carl and Doug. Bonnies only lifetime taxable gift was made in October 2013 in the taxable amount of $6.25 million. She did...

Bonnie died on June 1, 2014, survived by her husband, Abner, and two sons, Carl and Doug. Bonnie's only lifetime taxable gift was made in October 2013 in the taxable amount of $6.25 million. She did...

Beth died on May 8, 2015. Her executor elected date-of-death valuation. Beths gross estate included, among other properties, the items listed below. What is the estate tax value of each item? a....

Prentice Hall Federal Taxation 2016 Corporation, partnership, estates and trusts problem 32: Valuation. Beth died on May 8, 2015. Her executor elected date-of-death valuation. Beth's gross estate...

Beth died on May 8, 2013. Her executor elected date-of-death valuation. Beth's gross estate included, among other properties, the items listed below. What is the estate tax value of each item? a....

Valuation. Beth died on May 5, 2009. Her executor elected date-of-death valuation. Beth's gross estate included, among other properties, the items listed below. What is the estate tax value of each...

Beth died on May 3, 2018. Her executor elected date-of-death valuation. Beth's gross estate included, among other properties, the items listed below. What is the estate tax value of each item? a....

Beth died on May 3, 2016. Her executor elected date-of-death valuation. Beth's gross estate included, among other properties, the items listed below. What is the estate tax value of each item? a....

Beth died on May 3, 2022. Her executor elected date-of-death valuation. Beths gross estate included, among other properties, the items listed below. What is the estate tax value of each item? a....

Explain why it is important to look at a goods real price as opposed to its nominal, or absolute, price.

Use Crout factorization for tri diagonal systems to solve the following linear systems. a. 2x1 + x2 = 3, x1 + 2x2+ x3 = 2, 2x2+3x3 = 0. b. 2x1 x2 = 5, x1 + 3x2 + x3 = 4, x2 + 4x3 = 0. c. 2x1 x2 =...

5. The Dow Jones Travel Index reported what business travelers pay for hotel rooms per night in major U.S. cities (The Wall Street Journal, January 16, 2004). The average hotel room rates for 20...

Fritz has an open fire insurance policy on his home for a maximum liability of $60,000. The policy has a number of standard clauses,including the right of the insurer to restore or rebuild the...

Able Corporation is a closely held company engaged in the manufacture and retail sales of automotive parts. Able maintains a qualified pension plan for its employees but has not offered nontaxable...

Jay Corporation owns several automobile dealerships. This year, the corporation initiated a policy of giving the top salesperson at each dealership a free vacation trip to Florida. The president...

Ann is a graduate economics student at State University. State University awarded her a $1,000 scholarship. In addition, Ann works as a half-time teaching assistant in the Economics Department at...

Example 15: Draw a flowchart to receive a positive whole number and determine how many of its digits in odd positions are 7. For instance, if the input is 6475672, the output should be 1 because...

When using derivative for speculation and hedging, which of the following is FALSE? In the case of options contract, traders buy call option on the underlying asset when the trader's expected price...

11. (20 points) Walt exchanges land held for investment for an office building owned and used by Skyler in her business. The fair market value of Walt's land is $225,000 and his adjusted basis in the...