Regarding the formula for the Federal estate tax (see Concept Summary 27.2), comment on the following. a.

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Regarding the formula for the Federal estate tax (see Concept Summary 27.2), comment on the following.

a. The gross estate includes only property interests owned by the decedent at the time of death.

b. The gross estate is not the same as the probate estate.

c. Taxable estate  Applicable unified transfer tax rate = Estate tax due.

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South-Western Federal Taxation 2018 Comprehensive

ISBN: 9781337386005

41st Edition

Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young

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