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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