American College Exam HS330 Topic 2 Question 98 Discussion

Actual exam question for American College's HS330 exam

Question #: 98
Topic #: 2

A man recently died with only probate assets. Under the terms of his will, he left his entire probate estate outright to his wife. The following are relevant facts about the estate:

Gross estate $2,000,000

Estate administration expenses 50,000

Debts of decedent 200,000

Allowable funeral expenses 5,000

The amount of the allowable marital deduction is

A$1,745,000

B$1,750,000

C$1,795,000

D$1,800,000

Show Suggested Answer

Suggested Answer: C

by Zona at Sep 13, 2024, 02:58 AM

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Tony

1 months ago

Hmm, $2 million estate, huh? If I had that kind of money, I'd be sipping margaritas on a beach, not worrying about deductions.

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Justine

1 months ago

I bet the answer is hidden in the fine print, like a sneaky tax loophole. This is why I always read the instructions twice!

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Lavera

1 months ago

Probate assets, huh? This is starting to sound like a real-life 'Knives Out' scenario. I wonder if the wife is the culprit?

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Alonzo

5 days ago

B) $1,635,000

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Ahmed

12 days ago

A) $1,600,000

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My

1 months ago

Wait, what's the marital deduction again? I better brush up on my tax law before tackling this question.

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Celeste

15 days ago

So, the correct answer would be A) $1,600,000.

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Jenifer

29 days ago

In this case, it would be the gross estate minus debts and expenses.

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Whitney

1 months ago

Marital deduction is the amount that can be passed to a surviving spouse tax-free.

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Magda

2 months ago

Okay, let's see... Gross estate, minus expenses, debts, and funeral costs... I think I've got it!

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Dalene

19 days ago

D) $1,695,000

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Charisse

29 days ago

C) $1,665,000

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Royal

1 months ago

B) $1,635,000

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Meghann

1 months ago

A) $1,600,000

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Tu

2 months ago

Hmm, this seems like a tricky one. I'll have to crunch the numbers carefully to figure out the right answer.

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Lorrine

18 days ago

D) $1,695,000

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Vernice

1 months ago

C) $1,665,000

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Lillian

1 months ago

B) $1,635,000

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Eleonora

2 months ago

A) $1,600,000

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Julian

2 months ago

I see your point, but I still think A) $1,600,000 makes more sense based on the facts provided.

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Lizbeth

2 months ago

I disagree, I believe the correct answer is C) $1,665,000.

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Julian

2 months ago

I think the answer is A) $1,600,000.

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