At the Time of Her Death on June 6, Mary

question 101

Essay

At the time of her death on June 6, Mary owned the following assets.
∙ Taupe Corporation stock (cost $400,000, FMV $800,000). On May 4, Taupe declared a cash dividend, payable on June 15, to shareholders as of the record date of June 4. Mary's executor received the $40,000 dividend on the scheduled payment date.
∙ City of Boise bonds (cost $800,000, FMV $780,000). Interest accrued to June 6 was $42,000.
The executor eventually collected $50,000 (included postdeath accrual of $8,000) on July 20.
As to these transactions, how much is included in Mary's gross estate?

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Definitions:

Antitrust Purposes

Intended to promote or maintain market competition by regulating anti-competitive conduct.

Local Government Antitrust Act

Legislation that provides immunity from antitrust laws for certain activities conducted by local governments or within their official capacities.

Damage Actions

Legal actions taken to seek compensation for harm or injury suffered, typically involving monetary awards.

Injunctive Relief

A court-ordered act or prohibition against certain actions or conduct, serving as a remedy in disputes where mere monetary compensation is insufficient.