Estimated commissions on the planned sale of land

Estimated commissions on the planned sale of land owned by the decedent c.
Funeral expenses d.
Which of the following taxes are not deductible from the gross estate as a claim against the estate? 38.
Unpaid gift taxes on gifts made by the decedent
d.
When Cyrus Cald fi eld died he left his wife, Brenda, a number of items. Which of the following items 39.
includible in Cyrus’s gross estate and actually received by Brenda quali fi es for the marital deduction?
A remainder interest in a vacation home, with Cyrus’s mother, Tara, as a life tenant.

696 CCH Federal Taxation—Basic Principles
Chapter 17 © 2010 CCH. All Rights Reserved.
The following statements about “Quali fi ed Terminable Interest Property” (QTIP) trusts are true, except: 40.
The QTIP trust is a “simple” trust and anyone, including a charity, may be the remainderman. a.
A QTIP trust may not be implemented prior to the grantor’s death. b.
Only the grantor’s spouse may be the income bene fi ciary, but may refuse to accept the bequest and c.
elect against the will.
If a trust otherwise quali fi es, QTIP treatment may be elected for an undivided portion of the trust, such d.
as 78 percent.
Assume that John Henry died on July 1, 2010 and that sales of Video Corporation stock that he owned 41.
occurred four trading days before his death and two trading days after his death. Also, assume that the
mean sales prices were $20 and $15, respectively, and that Mr. Henry owned 1,000 shares at date of death.
What is the per share value of John Henry’s stock on his date of death?
d.
Assume that John Henry died on July 1, 2010 and that sales of Video Corporation stock that he owned 42.
occurred four trading days before his death and two trading days after his death. Also, assume that the
mean sales prices were $15 and $20, respectively, and that Mr. Henry owned 1,000 shares at date of death.
What would be the fair market value?
$15.00 a.
$20.00 b.
$16.67 c.
$18.33