This year, the Nano Trust reported $75,000 entity accounting…
This year, the Nano Trust reported $75,000 entity accounting income and $70,000 distributable net income (DNI). Nano distributed $90,000 cash to Horatio, its sole income beneficiary. Nano is a simple trust. Nano’s distribution deduction is:
Read DetailsIn which, if any, of the following independent situations ca…
In which, if any, of the following independent situations can the alternate valuation date be elected? (A) Value of gross estate Date of death = $6,000,000 Alternate date = $6,100,000 Estate tax result Date of death = $400,000 Alternate date = $390,000 (B) Value of gross estate Date of death = $6,200,000 Alternate date = $6,300,000 Estate tax result Date of death = $500,000 Alternate date = $490,000 (C) Value of gross estate Date of death = $6,100,000 Alternate date = $6,000,000 Estate tax result Date of death = $390,000 Alternate date = $380,000 (D) Value of gross estate Date of death = $5,900,000 Alternate date = $5,800,000 Estate tax result Date of death = $400,000 Alternate date = $405,000
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