At the time of her death on June 6, Kelsie owned the following assets.

1. TaupeCorporationstock(cost$400,000,FMV$800,000).OnMay4,Taupedeclaredacashdividend,payableon June15,toshareholdersasoftherecorddateof June4. Kelsie's executorreceivedthe$40,000dividendonthescheduledpaymentdate.

1. Cityof Boisebonds(cost$800,000,FMV$780,000).InterestaccruedtoJune6was$42,000.Theexecutoreventuallycollected$50,000(includedpost-deathaccrualof$8,000)onJuly20.

As to these transactions, how much is included in Kelsie's gross estate?

Answer rating: 100% (QA)

To determine the amount included in Kelsies gross estate we need to consider the fair ... View the full answer