Regarding maximum federal estate tax charitable deduction

Assignment Help Financial Accounting
Reference no: EM131214485

1. Which statement is correct regarding the maximum federal estate tax charitable deduction?

a. The maximum federal estate tax charitable deduction is 50% of the adjusted gross estate.

b. The maximum federal estate tax charitable deduction is 100% of the fair market value of gross estate property contributed to charity.

c. The maximum federal estate tax charitable deduction is 35% of the adjusted gross estate.

d. The maximum federal estate tax charitable deduction is limited to the cash plus fair market value of securities included in the gross estate and contributed to charity.

2. Which statement is correct with respect to the annual gift tax exclusion of a donor with respect to the donor?

a. The 2016 annual gift tax exclusion is $13,000 per donor.

b. The 2015 annual gift tax exclusion was $13,000 per donor.

c. The 2015 and 2016 annual gift tax exclusions were one-half of the fair market value of the gift.

d. The 2016 annual gift tax exclusion is $14,000 per donee.

Reference no: EM131214485

Questions Cloud

Compute invested capital, : For this assignment, please do the following: Compute NOPAT, both operating approach and financing approach. Compute invested capital, both operating and financing approach. Compute ROIC and FCF (free cash flow)
Department helicopter lands a swat team : One night, a sheriff's department helicopter lands a SWAT team in the yard of a rural residence suspected of containing a methamphetamine lab.
Peripheral cues that people use to accept or reject messages : In relation to the Elaboration Likelihood Model, Professor Kahn discussed the peripheral cues that people use to accept or reject messages. Which of the following is NOT one of the peripheral cues that she mentioned?
Single host operating system : This lab is to be used if you're setting up your own lab environment (preferred method of performing the labs) on your own system. The instructions also assume you're using a single host operating system and installing multiple guests in VMWare.
Regarding maximum federal estate tax charitable deduction : Which statement is correct regarding the maximum federal estate tax charitable deduction? Which statement is correct with respect to the annual gift tax exclusion of a donor with respect to the donor?
Elaboration likelihood model : In relation to the Elaboration Likelihood Model, Professor Kahn discussed the peripheral cues that people use to accept or reject messages. Which of the following is NOT one of the peripheral cues that she mentioned?
Example of professional standard for educational leaders : Read the article. Process the situation and Respond to the questions in a concise manner.- Provide an example of a Professional Standard for Educational Leaders.
Testamentary trust had distributable net income : The trustee of a testamentary trust had distributable net income of $30,000 on December 31, 2014, the last day of the trust’s income tax year. On March 3, 2015 the trustee made a distribution of all distributable net income on hand as of December 31,..
What are your concerns : Why do you want or not want to enter into this type of an agreement? What are your fears? What are your rights? What are your concerns?

Reviews

Write a Review

Financial Accounting Questions & Answers

  The memphis pecan company

The Memphis Pecan Company experienced a tornado that destroyed the company's entire inventory.

  Evaluate sales price per dozen pretzels

Evaluate sales price per dozen pretzels using 120% markup on variable cost and evaluate contribution margin per dozen pretzels and the breakeven point for the quarter (three months) in dollars and units

  Mortgages and deeds of trust related to one another

What does it seem for liability on a negotiable instrument to be secondary liability and How are mortgages and deeds of trust related to one another

  What is present value of tax savings related to operating

Assume a tax rate of 40 percent and that current losses can be used to offset taxable income in future years. What is present value of tax savings related to the operating losses in years 1 and 2?

  Classified as investing activity

In a statement of cash flows, which of the following would be classified as an investing activity? In capital budgeting computations, discounted cash flow methods:

  Questions on construction costing and accounting

Questions on construction costing and accounting - complete the project. Using the percentage-of-completion method, Indiana

  Evaluate genmets net income for fiscal year 2013

Evaluate GenMet's net income for fiscal year 2013. Round your calculations and answer to one decimal place. Enter the amount in millions.

  Determine unadjusted rate of return based on average cost

Scarlett Painting Company is considering whether to purchase a new spray paint machine that costs $2,600. The machine is expected to save labor, increasing net income by $260 per year. The effective life of the machine is 15 years according to the ma..

  Equivalent production units

Equivalent production units, usually are determined for

  How much of payment will be interest

The annual payments will be $6261.41 When Nunez makes its first payment at the end of the first year of the loan, how much of the payment will be interest?

  What will the property tax bill on this property equal

The Mundane County Council has the following information concerning the upcoming fiscal year’s budget: A residence in Mundane County has an assessed value of $15,000. Its owner qualifies for an old-age exemption of $1,000 and a homestead exemption of..

  Costs transferred out of the second process

Which of the following is included in the costs transferred out of the second process of a three-step production process? The Molding Department started the month with a beginning Work in Process inventory of $15,000. During the month, it was assigne..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd