Tavon dies and is survived by his spouse, Marge. Under Tavon's will, all of his otherwise uncommitted assets pass to Marge. For each of the property interests listed below, determine the marital deduction allowed to Tavon's estate. If an amount is zero, enter "0". If required, round your final answers to the nearest dollar. a. b. C. Timberland worth $4,540,000 owned by Tavon, Marge, and Amber (Marge's sister) as equal tenants in common. Amber furnished the original purchase price. e. Residence of Tavon and Marge worth $1,100,000, owned by them as tenants by the entirety with right of survivorship. Tavon provided the original purchase price. Insurance policy on Tavon's life (maturity value of $2,250,000), owned by Marge and payable to her as the beneficiary. d. Insurance policy on Tavon's life (maturity value of $350,000), owned by Tavon with Marge as the designated beneficiary. Lump-sum distribution from a qualified pension plan of $2,445,000 (Tavon had contributed $733,500 to his account), with Marge as the beneficiary. Marital Deduction 0

Tavon dies and is survived by his spouse, Marge. Under Tavon's will, all of his otherwise uncommitted assets pass to Marge. For each of the property interests listed below, determine the marital deduction allowed to Tavon's estate. If an amount is zero, enter "0". If required, round your final answers to the nearest dollar. a. b. C. Timberland worth $4,540,000 owned by Tavon, Marge, and Amber (Marge's sister) as equal tenants in common. Amber furnished the original purchase price. e. Residence of Tavon and Marge worth $1,100,000, owned by them as tenants by the entirety with right of survivorship. Tavon provided the original purchase price. Insurance policy on Tavon's life (maturity value of $2,250,000), owned by Marge and payable to her as the beneficiary. d. Insurance policy on Tavon's life (maturity value of $350,000), owned by Tavon with Marge as the designated beneficiary. Lump-sum distribution from a qualified pension plan of $2,445,000 (Tavon had contributed $733,500 to his account), with Marge as the beneficiary. Marital Deduction 0

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter27: The Federal Gift And Estate Taxes

Section: Chapter Questions

Problem 27CE

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