Calculate the marital deduction and total deductions

Reference no: EM131974149

Problem

Scenario 2: Karen died in February of 2014. She had a gross estate of $5,000,000. She had debts of $400,000. The expenses for the funeral were $25,000. In addition, there were administrative costs of $200,000. She had a will that transfers a piece of real estate (basis: $100,000; FMV $700,000) to her favorite charity (Save the Kids) and left her husband $2,000,000.

Calculate the marital deduction.

Calculate total deductions.

Calculate the taxable estate.

Calculate the estate tax base.

Reference no: EM131974149

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