Chloe's Gross Estate Consists of the Following Property Valued at the Date

question 57

Multiple Choice

Chloe's gross estate consists of the following property valued at the date of death: Chloe's real estate is encumbered by a mortgage of $450,000,and Chloe's executor paid her funeral costs of $6,000 and charged fees for $24,000.Which of the following is a true statement?

• A) Chloe's adjusted gross estate is at least $7,020,000.
• B) Chloe's taxable estate is at least $7,020,000.
• C) Chloe's taxable estate is $7,050,000.
• D) Chloe's estate will calculate the tentative estate tax on $7.5 million.
• E) None of the choices are true.

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