Marys estate had no deductions or adjusted taxable gifts


Question - Valuation. Mary died on April 3, 2009. As of this date, Mary's gross estate was valued at $4.5 million. On October3, Mary's gross estate was valued at $3.8 million. The estate neither distributed nor sold any assets before Oct 3, 2009. Mary's estate had no deductions or adjusted taxable gifts. What was Mary's lowest possible estate tax liability?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Marys estate had no deductions or adjusted taxable gifts
Reference No:- TGS02586076

Now Priced at $20 (50% Discount)

Recommended (94%)

Rated (4.6/5)