Business, 29.07.2020 21:01 skylastrusz7643

Gross Estate - Items Included and Excluded (LO. 6) At the time of her death on September 4, 2013, Alicia held the following assets:
Fair Market
Value Bonds of Emerald Tool Corporation $900,000
Stock in Drab Corporation 1,100,000
Insurance policy (face amount of $400,000) on the life of her father, Mitch 80,000*
Roth IRAs $300,000
*Cash surrender value.
Alicia was also the life tenant of a trust (fair market value of $2,000,000) created by her late husband Bert. (The executor of Bert's estate did not make a QTIP election.)
In October, Alicia's estate received an interest payment of $11,500 ($6,000 accrued before September 4, 2013) paid by Emerald and a cash dividend of $9,000 from Drab. The Drab dividend was declared on August 19 and was payable to date of record shareholders on September 5, 2013.
Although Mitch survives Alicia, she is the designated beneficiary of the policy. The IRAs are distributed to Alicia's children. Mitch is killed by a rock slide while mountain climbing in November 2013, and the insurer pays Alicia's estate $400,000.
On November 7, 2013, Alicia's estate receives from the IRS an $8,000 income tax refund on the taxes she paid for the preceding calendar year.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 18:00

You want to make an investment in a continuously compounding account over a period of two years. what interest rate is required for your investment to double in that time period? round the logarithm value and the answer to the nearest tenth.

Answers: 3

Answer

Business, 22.06.2019 03:20

Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.

Answers: 3

Answer

Business, 22.06.2019 07:00

For the past six years, the price of slippery rock stock has been increasing at a rate of 8.21 percent a year. currently, the stock is priced at $43.40 a share and has a required return of 11.65 percent. what is the dividend yield? 3.20 percent 2.75 percent 3.69 percent

Answers: 3

Answer

Business, 22.06.2019 07:50

Budget in this final week, you will develop a proposed budget of $150,000 for the first year of the program and complete the final concept paper for the proposed program due for senior management review. the budget should identify the program's anticipated expenses for the year ahead. budget line items should be consistent with the proposed program and staffing plan. using the readings for the week, the south university online library, and the internet, complete the following tasks: create a proposed budget of $150,000 for the first year of the proposed program including the cost for personnel, supplies, education materials, marketing costs, and so on in a microsoft excel spreadsheet. you may transfer your budget to your report. justify the cost for each item of the proposed budget in a budget narrative.

Answers: 2

Answer

You know the right answer?

Gross Estate - Items Included and Excluded (LO. 6) At the time of her death on September 4, 2013, A...

Questions