At the time of his death this year on September 4, Kenneth owned the following assets, among
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At the time of his death this year on September 4, Kenneth owned the following assets, among others:
In October, the executor of Kenneth’s estate received the following: $120,000 interest on the City of Boston bonds ($10,000 accrued since September 4) and a $7,000 cash dividend on the Brown stock (date of record was September 5). The declaration date on the dividend was August 12.
The $600,000 loan was made to Brad in late 2015, and he used the money to create a very successful business. The note was forgiven by Kenneth in his will. What are the estate tax consequences of these transactions?
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Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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