How is the amount of the gift reported on the estate

Reference no: EM13129647

On his deathbed, Chester gave his live-in caregiver $5,113,000 of listed bonds, incurring a gift tax liability of $35,000. After Chester died, the executor of his will filed a gift tax return and remitted the gift tax to the IRS. Assume Chester's estate is required to file an estate tax return, Form 706. How is the amount of the gift reported on the estate tax return?

a. There is nothing required to be shown on the estate tax return.
b. As an adjusted taxable gift of $5,100,000.
c. As an adjusted taxable gift of $35,000.
d. On schedule B of the Form 706 as stock included in the gross estate.

Reference no: EM13129647

Questions Cloud

Custom decision support system for an international airline : A major international airline (of your choice) wants to upgrade its rostering tool, which has had many upgrades and still used some manual input. A salesman from CSIRO has convinced them to consider a new Intelligent Automated Rostering Toolkit

Describe the implications of the ggp bankruptcy : Explain whether you agree or disagree with the court’s decision to allow GGP’s SPEs to enter bankruptcy protection. Describe the implications of the GGP bankruptcy for the securitization markets.

Tax deductible program : Which of the following is issued by the IRS to indicate the tax consequences of a particular transaction in which several taxpayers may engage such as whether or not a stop smoking program is tax deductible?

Passed through a solution containing alanine : A direct current was passed through a solution containing alanine, Match the behavior with correct amino acid. The isoelectric point of histidine is 10.0.

How is the amount of the gift reported on the estate : On his deathbed, Chester gave his live-in caregiver $5,113,000 of listed bonds, incurring a gift tax liability of $35,000. After Chester died, the executor of his will filed a gift tax return and remitted the gift tax to the IRS. Assume Chester's ..

Volume of rotated solid with disk method : Use the disk method to calculate the volume of the solid shape than will come about as a result of rotating the area bounded by the graphs of y=x^3, y=1, and x=2 about the x-axis.

Regulations ultimately issued for that statute : When Congress passes a statute with language such as, "The Secretary shall prescribe such regulations as he may deem necessary," the regulations ultimately issued for that statute are:

How much heat is evolved : How much heat is evolved when 9.07 x 105 g of ammonia is produced according to the following equation:

Description of simpson rule : A function f is given by the following table: Approximate the area between the x-axis and y=f (x) from x=0 to x=4 using Simpson's Rule.

User Account

All Pages