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:

Medical Record

A comprehensive document containing a patient's medical history, treatment plans, and healthcare interactions.

Professional Communication

The exchange of information, thoughts, or messages in a professional setting, often characterized by clarity, conciseness, and respect.

Verbal Order

An instruction for patient care communicated orally between healthcare professionals, often documented later in written form.

Routine Medication

Medication that is taken on a regular schedule to manage chronic conditions or maintain health.