Asked by
Caleb Montgomery
on Dec 10, 2024Verified
Which of the following is not subtracted to arrive at the taxable value of an estate?
A) Liabilities.
B) Charitable bequests.
C) Funeral expenses.
D) Estate administration expenses.
E) Deduction for property conveyed to children of decedent.
Taxable Value
The assessed value of an asset or property that is used to determine the amount of tax owed.
Charitable Bequests
Gifts left in a will or estate plan to a charity or nonprofit organization.
Funeral Expenses
Funeral expenses are the costs incurred in arranging and conducting a funeral, including but not limited to services, casket, and burial or cremation.
- Determine the taxable value of an estate and understand factors influencing it.
Verified Answer
CB
Learning Objectives
- Determine the taxable value of an estate and understand factors influencing it.