Praneh Patel,a Widower,died in March of the Current Year

question 26

Essay

Praneh Patel,a widower,died in March of the current year.His gross estate is $5,325,000,and at the time of his death,he owed debts of $40,000.His will made a charitable bequest of $280,000 and left the rest of his property to his children.His administrative expenses are estimated to be about $55,000.What tax issues should the estate's CPA consider when preparing Praneh's estate tax return and his estate's income tax return?

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Definitions:

Write Function

A standard library function in many programming languages used to write data to a file or an output stream.

Pointers

Variables used to store the addresses of other variables or memory locations, enabling direct memory manipulation and array management.

Variables

Entities in programming that store data which can change during program execution.