Carl and Carol Williams,a Married Couple,are Doing Some Estate Planning

question 6

Multiple Choice

Carl and Carol Williams,a married couple,are doing some estate planning.Upon his death,Carl plans to leave $1,000,000 in property to his wife.This amount will reduce the value of Carl's gross estate and will be taxed later when Carol dies.This reduction of the gross estate is called the

• A)unified tax credit.
• B)taxable estate.
• C)capital gains deduction.
• D)marital deduction.

---

Definitions:

Formula

A predefined mathematical equation used in spreadsheets or other applications to perform calculations or data manipulation.

Function

In programming, a named section of a code that performs a specific task and can return a value. It can also refer to the mathematical notion where a relation associates inputs to outputs.

Insert Function Dialog Box

A feature in spreadsheet software that helps users search for, select, and insert functions into cells.

Function Arguments Dialog Box

A graphical interface in software applications that allows users to enter and configure the parameters required by a function to operate.