The Executor of D's Estate, in Accordance with the Specific

question 18

Multiple Choice

The executor of D's estate, in accordance with the specific instructions of the testator, must distribute 50 percent of the income produced by the estate to A.The estate recognized $60,000 income, and the executor distributed $25,000 and a diamond ring worth $5,000.The ring belonged to the estate and had not been bequeathed to anyone.As a result of this distribution, A should report taxable income of

• A)nothing-legacies and bequests are tax-free.
• B)$25,000
• C)$30,000
• D)$5,000

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Definitions:

My Lai Massacre

Massacre of 347 Vietnamese civilians in the village of My Lai by Lieutenant William Calley and troops under his command. U.S. army officers covered up the massacre for a year until an investigation uncovered the events. Eventually twenty-five army officers were charged with complicity in the massacre and its cover-up, but only Calley was convicted. He served little time for his crimes.

Nuremberg Trials

A series of military tribunals held after World War II to prosecute prominent leaders of Nazi Germany for war crimes, crimes against humanity, and genocide.

Conservative Agenda

Refers to political goals that emphasize traditional values, limited government, and free market principles.

Welfare State

A term that originated in Britain during World War II to refer to a system of income assistance, health coverage, and social services for all citizens.