Jeung Hong, a widower, died in March 2016. His gross estate was $6.5 million and, at the

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Jeung Hong, a widower, died in March 2016. His gross estate was $6.5 million and, at the time of his death, he owed debts of $60,000. His will made a bequest of $200,000 to his undergraduate alma mater and left the rest of his property to his children. His administrative expenses were $75,000. What tax issues should the estate's CPA consider when preparing Jeung's estate tax return and his estate's income tax return?
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Federal Taxation 2017 Comprehensive

ISBN: 9780134421438

30th Edition

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

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