Pursuant to Corey's Will, Emma (Corey's Sister) Inherits His Property

question 16

Multiple Choice

Pursuant to Corey's will, Emma (Corey's sister) inherits his property. Emma dies in a later tax year. The estate tax attributable to the inclusion of the property in Corey's gross estate was $300,000. The estate tax attributable to the inclusion of the property in Emma's gross estate is $400,000. Emma's credit for the tax on prior transfers is:

• A) $0 if Emma died 9 1/2 years after Corey.
• B) $300,000 if Emma died 3 years after Corey.
• C) $400,000 if Emma died 1 year after Corey.
• D) $240,000 if Emma died 5 1/2 years after Corey.

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