過去問 Property Taxation ６

A decedent's will provided that the estate was to be divided among the decedent's per capita and not per stirpes. If there are two surviving children and three grandchildren who are children of a predeceased child at the time the will is probated, how will the estate be divided?

a.               1/2 to each surviving child

b.               1/3 to each surviving child and 1/9 to each grandchild

c.                1/4 to each surviving child and 1/6 to each grandchild

d.               1/5 to each surviving child and grandchild

3091

Solution

 d

Per Capita は頭数。Par Stirpe ならb。

Rita Ryan died leaving a will naming her children, John and Dale, as the sole beneficiaries. In her will, Rita designated John as the executor of her estate and excused John from posting a bond as executor. At the time of Rita's death, she owned a parcel of land with her sister, Ann, as joint tenants with right of survivorship. In general, John as executor, must

a.               Post a bond despite the provision to the contrary in Rita’s will

b.               Serve without compensation because John is also a named beneficiary in the will

c.                File a final account of the administration of the estate

d.               Relinquish the duties because of the conflict of interest as executor and beneficiary

0866

Solution　c

John がしなければいけないこと。

a してはいけないと書かれている。

b Must ではない。Compensation はもらってもいい。

c　Executor として最後に（遺産がどうなったか）Final Account しなければいけない。

d　Conflict of Interest じゃない。

Which of the following credits may be offset against the gross estate tax to determine the net estate tax of a US Citizen?

	Unified Credit	Credit for gift taxes paid on　 gifts made after 1976
a.	Yes	Yes
b.	No	No
c.	No	Yes
d.	Yes	No

3354

Solution　d

右側はGross Estate Tax に行きつくまでのCredit。

Gross Estate Tax からUnified Credit を引いて、Net Estate Tax を出す。

What amount of a decedent's $3,500,000 taxable estate is effectively tax-free in 2014 if the maximum unified estate and gift credit is taken?

a.               $ 14,000

b.               $ 500,000

c.                $ 2,000,000

d.               $ 3,500,000

4468

Solution d

Maximum のUnified Credit は約5,000,000。

Under the provisions of a decedent's will, the following cash disbursements were made by the estate's executor:

I. A charitable bequest to the American Red Cross
II. Payment of the decedent's funeral express

What deduction(s) is (are) allowable in determining the decedent's taxable estate?

a.               I only

b.               II only

c.                Both I and II

d.               Neither I nor II

6537

Solution c

Taxable Estate を出すために以下の２つを引く。

・Non-Discretionary Deduction（葬式費用等）

・Discretionary Deduction（Charity 等）

Proceeds of a life insurance policy payable to the estate's executor, as the estate's representative, are

a.               Includible in the decedent’s gross estate only if the premiums had been paid by the insured

b.               Includible in the decedent’s gross estate only if the policy was taken out within three years of the insured’s death under the “contemplation of death” rule

c.                Never includable in the decedent’s gross estate

d.               Always includable in the decedent’s gross estate

8048

Solution　d

死んだ人のGross Estate に全額入れる。

Following are the fair market values of Wald's assets at the date of death:

Personal effects and jewelry	$150,000
Land bough by Wald with Wald's funds five years prior to death and held with Wald's sister as joint tenants with right of survivorship	1,800,000

The executor of Wald's estate did not elect the alternate valuation date. The amount includible as Wald's gross estate in the federal estate tax return is

a.               $ 150,000

b.               $1,150,000

c.                $1,800,000

d.               $1,950,000

1707

Solution　d

妹と共同所有だが、全額払っているので全額Gross Estate に入れる。

Generally, an estate is liable for which debts owed by the decedent at the time of death?

a.               All of the decedent’s debts

b.               Only debts secured by the decedent’s property

c.                Only debts covered by the Statute of Frauds

d.               None of the decedent’s debts

0862

Solution　a

残した負債すべてに対して、支払う義務がある。

Bell, a cash-basis calendar year taxpayer, died on June 1, Year 1, at the age of 80. Prior to her death, Bell incurred $2,000 in medical expenses. The executor of the estate paid the medical expenses, which were a claim against the estate, on July 1, Year 1. If the executor files the appropriate waiver, the medical expenses are deductible on

a.               The estate tax return

b.               Bell’s final income tax return

c.                The estate income tax return

d.               The executor’s income tax return

5032

Solution　b

Waiver を使っているので、Medical Expense は706 Estate Tax Return では取らない　⇒　Final Return

Under the unified rate schedule,

a.               Lifetime taxable gifts are taxed on a noncumulative basis.

b.               Transfers ate death are taxed on a noncumulative basis.

c.                Lifetime taxable gifts and transfers ate death are taxed on a cumulative basis.

d.               The gift rates are 5% higher than the estate tax rates.

2485

Solution　c

Unified Rate はGift + 相続のCumulative Basis。

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